Red Rock Resorts (NASDAQ:RRR) Given New $60.00 Price Target at Susquehanna

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price target decreased by analysts at Susquehanna from $66.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's price objective would suggest a potential upside of 21.83% from the stock's previous close.

Several other brokerages have also issued reports on RRR. Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. Barclays dropped 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, November 8th. 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 report on Friday, January 3rd. Wells Fargo & Company cut their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a report on Thursday, October 17th. Finally, JMP Securities cut their price objective on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $57.25.

Red Rock Resorts Price Performance

Shares of RRR stock traded up $0.37 on Tuesday, reaching $49.25. The company had a trading volume of 1,332,334 shares, compared to its average volume of 610,953. The stock has a market capitalization of $5.20 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 5.30 and a beta of 2.02. 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 business's 50-day moving average is $47.32 and its 200 day moving average is $51.61. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. The business had revenue of $468.02 million during the quarter, compared to analysts' expectations of $460.73 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts forecast that Red Rock Resorts will post 1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System grew its holdings in shares of Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after purchasing an additional 216 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Red Rock Resorts by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company's stock worth $430,000 after purchasing an additional 232 shares in the last quarter. Truist Financial Corp boosted its position in Red Rock Resorts by 0.9% during the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company's stock valued at $1,513,000 after acquiring an additional 241 shares in the last quarter. KBC Group NV raised its holdings in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its stake in Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after acquiring an additional 591 shares in the last quarter. 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.