Deutsche Bank analyst Carlo Santarelli maintained a Buy rating on Red Rock Resorts (RRR) yesterday. The company’s shares closed last Thursday at $17.67.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 8.0% and a 60.6% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings, and Marriott International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Red Rock Resorts with a $18.83 average price target, a 7.8% upside from current levels. In a report issued on September 2, Truist Financial also maintained a Buy rating on the stock with a $21.00 price target.
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Based on Red Rock Resorts’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $108 million and GAAP net loss of $71.54 million. In comparison, last year the company earned revenue of $483 million and had a GAAP net loss of $3.85 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RRR in relation to earlier this year.
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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 space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. The company was founded in 1976 and is headquartered in Las Vegas, NV.
