Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $54.00 by Analysts at Deutsche Bank Aktiengesellschaft

Red Rock Resorts (NASDAQ:RRRGet Rating) had its price objective dropped by Deutsche Bank Aktiengesellschaft from $56.00 to $54.00 in a report released on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 20.13% from the company’s previous close.

Other analysts also recently issued reports about the company. StockNews.com initiated coverage on Red Rock Resorts in a report on Thursday, March 31st. They set a “buy” rating for the company. Bank of America downgraded Red Rock Resorts from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $64.00 to $50.00 in a report on Monday, January 10th. Finally, Macquarie downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $60.00 to $55.00 in a report on Wednesday, January 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $55.13.

Shares of RRR opened at $44.95 on Wednesday. The company has a fifty day simple moving average of $46.28. The company has a debt-to-equity ratio of 56.51, a current ratio of 2.10 and a quick ratio of 2.04. The firm has a market cap of $4.82 billion, a P/E ratio of 18.50 and a beta of 2.32. Red Rock Resorts has a fifty-two week low of $35.59 and a fifty-two week high of $58.74.

Red Rock Resorts (NASDAQ:RRRGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.24. The company had revenue of $401.64 million during the quarter, compared to the consensus estimate of $408.32 million. Red Rock Resorts had a return on equity of 68.48% and a net margin of 14.95%. Red Rock Resorts’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, research analysts anticipate that Red Rock Resorts will post 2.11 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in RRR. Neo Ivy Capital Management acquired a new stake in Red Rock Resorts in the 4th quarter valued at $29,000. Lindbrook Capital LLC increased its holdings in Red Rock Resorts by 247.1% in the 1st quarter. Lindbrook Capital LLC now owns 1,024 shares of the company’s stock valued at $50,000 after purchasing an additional 729 shares in the last quarter. AHL Investment Management Inc. acquired a new stake in Red Rock Resorts in the 4th quarter valued at $83,000. Counterpoint Mutual Funds LLC acquired a new stake in Red Rock Resorts in the 1st quarter valued at $92,000. Finally, FourThought Financial LLC increased its holdings in Red Rock Resorts by 17.9% in the 1st quarter. FourThought Financial LLC now owns 2,353 shares of the company’s stock valued at $114,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 99.30% of the company’s stock.

Red Rock Resorts Company Profile (Get Rating)

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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