Red Rock Resorts’ (RRR) Outperform Rating Reaffirmed at Mizuho

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “outperform” rating reissued by Mizuho in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $57.00 target price on the stock, down from their previous target price of $67.00. Mizuho’s price objective indicates a potential upside of 8.49% from the company’s previous close.

Several other equities analysts also recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Wells Fargo & Company dropped their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Barclays cut their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Susquehanna raised their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $52.54 on Tuesday. The company has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $53.84. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 5.61 and a beta of 2.04. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. Red Rock Resorts has a 52 week low of $40.22 and a 52 week high of $63.28.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Covestor Ltd lifted its stake in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Red Rock Resorts during the first quarter worth approximately $78,000. US Bancorp DE raised its stake in shares of Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Red Rock Resorts during the second quarter worth approximately $98,000. Finally, nVerses Capital LLC purchased a new stake in shares of Red Rock Resorts during the second quarter worth approximately $154,000. Hedge funds and other 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.