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

Red Rock Resorts (NASDAQ:RRR) had its target price decreased by research analysts at JMP Securities from $59.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 34.75% from the stock’s previous close.

Several other brokerages also recently weighed in on RRR. Morgan Stanley cut their price target on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday. Susquehanna dropped their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday. Jefferies Financial Group reissued a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Truist Financial cut their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Hold” and a consensus target price of $55.33.

Red Rock Resorts Price Performance

NASDAQ RRR traded up $0.06 during mid-day trading on Thursday, hitting $40.82. The stock had a trading volume of 94,134 shares, compared to its average volume of 560,157. The company has a 50 day simple moving average of $45.69 and a 200 day simple moving average of $48.27. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 4.32 and a beta of 1.69. Red Rock Resorts has a 52-week low of $35.09 and a 52-week high of $61.73. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Equities analysts forecast that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in shares of Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV grew its stake in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after buying an additional 664 shares in the last quarter. Mayfair Advisory Group LLC lifted its stake in Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after purchasing an additional 591 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Red Rock Resorts during the fourth quarter valued at $213,000. 47.84% of the stock is owned by institutional investors and hedge funds.

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.