Red Rock Resorts (NASDAQ:RRR) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Red Rock Resorts (NASDAQ:RRR – Get Rating) in a report issued on Thursday. The firm set a “buy” rating on the stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company boosted their price target on Red Rock Resorts from $54.00 to $56.00 in a research note on Friday, May 5th. JMP Securities boosted their price target on Red Rock Resorts from $51.00 to $54.00 in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft upped their target price on Red Rock Resorts from $53.00 to $55.00 in a research report on Friday, May 5th. JPMorgan Chase & Co. upped their target price on Red Rock Resorts from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Finally, TheStreet upgraded Red Rock Resorts from a “c” rating to a “b-” rating in a research report on Tuesday, February 28th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $49.09.

Red Rock Resorts Stock Performance

RRR stock opened at $46.23 on Thursday. The company has a debt-to-equity ratio of 32.33, a current ratio of 0.65 and a quick ratio of 0.61. The business has a 50-day moving average price of $44.83 and a 200 day moving average price of $44.01. The company has a market capitalization of $4.82 billion, a P/E ratio of 13.88, a PEG ratio of 6.73 and a beta of 2.17. Red Rock Resorts has a 1-year low of $30.98 and a 1-year high of $49.81.

Red Rock Resorts (NASDAQ:RRR – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.28. Red Rock Resorts had a return on equity of 808.22% and a net margin of 11.90%. The company had revenue of $433.64 million for the quarter, compared to analyst estimates of $413.05 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that Red Rock Resorts will post 1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RRR. Duality Advisers LP acquired a new position in shares of Red Rock Resorts during the 4th quarter worth approximately $537,000. Griffin Asset Management Inc. acquired a new position in shares of Red Rock Resorts during the 4th quarter worth approximately $223,000. Connable Office Inc. raised its stake in shares of Red Rock Resorts by 26.6% during the 4th quarter. Connable Office Inc. now owns 11,900 shares of the company’s stock worth $476,000 after buying an additional 2,500 shares during the period. Seven Eight Capital LP acquired a new position in shares of Red Rock Resorts during the 3rd quarter worth approximately $237,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Red Rock Resorts during the 4th quarter worth approximately $5,006,000. 52.45% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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Red Rock Resorts, Inc is a holding company, which engages in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet spaces, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.