Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $64.00 by Analysts at Macquarie

Red Rock Resorts (NASDAQ:RRR) had its target price reduced by analysts at Macquarie from $65.00 to $64.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target suggests a potential upside of 20.14% from the company’s current price.

Several other analysts also recently weighed in on RRR. Truist Financial dropped their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Barclays dropped their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna boosted their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Red Rock Resorts Trading Down 4.3 %

Shares of RRR stock traded down $2.39 during trading on Friday, hitting $53.27. 2,809,551 shares of the stock traded hands, compared to its average volume of 475,884. The firm has a market capitalization of $5.63 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 5.96 and a beta of 2.04. 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’s fifty day moving average price is $53.81 and its 200-day moving average price is $54.00. Red Rock Resorts has a 52-week low of $40.22 and a 52-week high of $63.28.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of RRR. Covestor Ltd lifted its position in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Red Rock Resorts in the first quarter valued at $78,000. US Bancorp DE lifted its position in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Red Rock Resorts in the second quarter valued at $98,000. Finally, nVerses Capital LLC purchased a new stake in shares of Red Rock Resorts in the second quarter valued at about $154,000. 47.84% of the stock is owned by hedge funds and other 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.