JMP Securities Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its target price cut by JMP Securities from $61.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 21.98% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Truist Financial lowered their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research report on Tuesday. Macquarie dropped their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, Barclays reduced 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 report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and a consensus price target of $58.38.

Red Rock Resorts Stock Performance

Shares of RRR opened at $46.73 on Thursday. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The company has a 50-day moving average of $48.01 and a two-hundred day moving average of $52.50. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 4.75 and a beta of 2.01.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of the business. Quarry LP lifted its position in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE lifted its holdings in Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Red Rock Resorts during the second quarter worth approximately $98,000. nVerses Capital LLC grew its holdings in Red Rock Resorts by 28.6% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after purchasing an additional 800 shares during the last quarter. Finally, Mayfair Advisory Group LLC bought a new position in shares of Red Rock Resorts in the third quarter valued at approximately $218,000. 47.84% of the stock is currently 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.