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

Red Rock Resorts (NASDAQ:RRR) had its price objective dropped 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 brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 22.45% from the stock’s previous close.

RRR has been the subject of a number of other reports. Wells Fargo & Company cut 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 note on Thursday, October 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Truist Financial dropped their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Macquarie decreased their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.38.

Red Rock Resorts Stock Performance

NASDAQ:RRR traded up $0.01 during mid-day trading on Thursday, hitting $46.55. 89,155 shares of the company’s stock traded hands, compared to its average volume of 596,091. Red Rock Resorts has a 12 month low of $42.46 and a 12 month high of $63.28. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 4.75 and a beta of 2.01. The firm has a 50 day moving average of $48.32 and a two-hundred day moving average of $52.59.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in shares of Red Rock Resorts during the third quarter worth $842,000. Barclays PLC raised its stake in Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after buying an additional 54,863 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Red Rock Resorts by 3.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after acquiring an additional 38,443 shares in the last quarter. Seven Eight Capital LP grew its stake in Red Rock Resorts by 477.5% in the second quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock valued at $1,588,000 after acquiring an additional 23,907 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Red Rock Resorts by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after acquiring an additional 14,029 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

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.