Susquehanna Forecasts Strong Price Appreciation for Red Rock Resorts (NASDAQ:RRR) Stock

Red Rock Resorts (NASDAQ:RRR) had its price objective raised by stock analysts at Susquehanna from $52.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 19.93% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on shares of Red Rock Resorts from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Mizuho raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, June 2nd. Truist Financial raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $67.00 in a research report on Wednesday, July 16th. Finally, JMP Securities lifted their target price on shares of Red Rock Resorts from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $56.64.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $54.20 on Thursday. Red Rock Resorts has a fifty-two week low of $35.09 and a fifty-two week high of $58.83. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 3.45 and a beta of 1.62. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The firm’s 50-day simple moving average is $51.44 and its 200 day simple moving average is $47.58.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The business had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $499.12 million. During the same quarter last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Red Rock Resorts in the 4th quarter valued at approximately $292,000. Commonwealth Equity Services LLC grew its stake in Red Rock Resorts by 184.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,509 shares of the company’s stock valued at $578,000 after buying an additional 8,107 shares in the last quarter. Cibc World Markets Corp purchased a new position in Red Rock Resorts in the 4th quarter valued at approximately $213,000. American Century Companies Inc. grew its stake in Red Rock Resorts by 11.7% in the 4th quarter. American Century Companies Inc. now owns 34,530 shares of the company’s stock valued at $1,597,000 after buying an additional 3,623 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Red Rock Resorts in the 4th quarter valued at approximately $407,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.