Red Rock Resorts (NASDAQ:RRR) Coverage Initiated by Analysts at Benchmark

Research analysts at Benchmark assumed coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a report released on Monday. The firm set a “buy” rating and a $67.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 16.48% from the company’s current price.

Several other research analysts have also recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Red Rock Resorts in a research report on Tuesday, March 10th. Weiss Ratings cut Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Susquehanna lifted their target price on Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research note on Wednesday, February 11th. UBS Group set a $73.00 price target on Red Rock Resorts in a research note on Wednesday, December 24th. Finally, Citizens Jmp raised their price target on Red Rock Resorts from $65.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.86.

Red Rock Resorts Trading Down 3.9%

Shares of NASDAQ RRR opened at $57.52 on Monday. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $68.99. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The stock’s 50 day simple moving average is $61.59 and its 200 day simple moving average is $60.16.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The firm had revenue of $511.78 million during the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Equities research analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Institutional Trading of Red Rock Resorts

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Red Rock Resorts in the first quarter worth about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Red Rock Resorts by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock worth $1,270,000 after purchasing an additional 1,282 shares in the last quarter. Millennium Management LLC lifted its stake in Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock valued at $18,656,000 after purchasing an additional 154,839 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Red Rock Resorts by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after buying an additional 4,699 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Red Rock Resorts by 6.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 11,105 shares of the company’s stock worth $578,000 after buying an additional 633 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.