Stifel Nicolaus Raises Red Rock Resorts (NASDAQ:RRR) Price Target to $54.00

Red Rock Resorts (NASDAQ:RRR) had its target price hoisted by Stifel Nicolaus from $50.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 3.65% from the company’s previous close.

A number of other research firms also recently issued reports on RRR. Truist Financial reduced their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. JMP Securities decreased their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Susquehanna lifted their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday. Jefferies Financial Group reissued a “hold” rating and set a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, Wells Fargo & Company dropped their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Price Performance

RRR stock opened at $52.10 on Wednesday. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 5.28 and a beta of 2.02. The business has a fifty day moving average of $47.37 and a two-hundred day moving average of $51.35.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. As a group, research analysts anticipate that Red Rock Resorts will post 1.44 earnings per share for the current year.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Red Rock Resorts by 3.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company’s stock worth $492,000 after purchasing an additional 314 shares in the last quarter. Long Pond Capital LP boosted its position in shares of Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after acquiring an additional 866,320 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter valued at about $253,000. Barclays PLC raised its position in shares of Red Rock Resorts by 15.2% during the 4th quarter. Barclays PLC now owns 90,909 shares of the company’s stock worth $4,204,000 after acquiring an additional 11,977 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.