Susquehanna Has Lowered Expectations for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its target price dropped by equities researchers at Susquehanna from $66.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 23.02% from the stock’s previous close.

A number of other brokerages also recently commented on RRR. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. JMP Securities cut their price objective on shares of 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. Truist Financial lowered 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 research note on Tuesday, January 14th. Finally, Barclays cut their price objective 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and a consensus price target of $57.25.

Red Rock Resorts Stock Performance

RRR traded up $0.13 during mid-day trading on Tuesday, reaching $48.77. 32,570 shares of the company traded hands, compared to its average volume of 583,744. The company’s fifty day moving average price is $47.39 and its 200-day moving average price is $51.72. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. 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 stock has a market capitalization of $5.15 billion, a P/E ratio of 18.06, a P/E/G ratio of 5.30 and a beta of 2.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly 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 analyst estimates of $460.73 million. During the same quarter in the prior year, the business posted $0.60 EPS. On average, sell-side analysts expect that Red Rock Resorts will post 1.44 EPS for the current year.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently modified their holdings of the stock. Keene & Associates Inc. purchased a new position in Red Rock Resorts in the fourth quarter worth $548,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Red Rock Resorts by 19.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,390 shares of the company’s stock valued at $1,960,000 after purchasing an additional 6,969 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after buying an additional 229,843 shares in the last quarter. Entropy Technologies LP acquired a new position in Red Rock Resorts during the fourth quarter worth about $366,000. Finally, Hantz Financial Services Inc. increased its holdings in Red Rock Resorts by 3.4% in the fourth quarter. Hantz Financial Services Inc. now owns 272,884 shares of the company’s stock valued at $12,618,000 after buying an additional 9,002 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.