Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $62.00 by Analysts at Barclays

Red Rock Resorts (NASDAQ:RRR) had its price target reduced by Barclays from $65.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 17.56% from the stock’s current price.

Several other brokerages have also issued reports on RRR. Stifel Nicolaus increased their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Truist Financial dropped their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. 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 on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.33.

Red Rock Resorts Stock Down 5.2 %

Red Rock Resorts stock traded down $2.92 during trading hours on Friday, hitting $52.74. The company had a trading volume of 2,184,388 shares, compared to its average volume of 473,003. Red Rock Resorts has a fifty-two week low of $40.22 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The firm has a market capitalization of $5.57 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 5.96 and a beta of 2.04. The firm’s fifty day moving average is $53.81 and its 200-day moving average is $54.00.

Institutional Trading of Red Rock Resorts

Several hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its position in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC acquired a new stake in Red Rock Resorts in the first quarter worth $78,000. US Bancorp DE boosted its position 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 in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at $98,000. Finally, nVerses Capital LLC acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at $154,000. 47.84% of the stock is owned by institutional investors.

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.