Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $57.00 at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by equities research analysts at JMP Securities from $61.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 22.45% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group restated a “hold” rating and issued a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial reduced their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday. Barclays lowered their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective 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. Finally, Macquarie lowered their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.38.

Red Rock Resorts Stock Up 0.0 %

RRR stock traded up $0.01 during trading hours on Thursday, reaching $46.55. 89,155 shares of the stock were exchanged, compared to its average volume of 596,091. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 4.75 and a beta of 2.01. The firm’s 50-day moving average is $48.32 and its 200-day moving average is $52.59. Red Rock Resorts has a 12 month low of $42.46 and a 12 month high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently added to or reduced their stakes in RRR. Long Pond Capital LP bought a new stake in Red Rock Resorts in the 2nd quarter valued at about $21,987,000. Eminence Capital LP boosted its stake in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after buying an additional 374,128 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after buying an additional 325,727 shares during the period. Wellington Management Group LLP grew its position in Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after buying an additional 130,434 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after acquiring an additional 106,509 shares during the period. 47.84% of the stock is currently owned by institutional investors.

About Red Rock Resorts

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.