Truist Financial Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective lowered by research analysts at Truist Financial from $56.00 to $49.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 11.59% from the company’s previous close.

RRR has been the topic of a number of other reports. Macquarie lowered their target price on shares of 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. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company lowered their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.00.

Red Rock Resorts Trading Up 1.7 %

NASDAQ:RRR opened at $43.91 on Tuesday. The company has a market capitalization of $4.64 billion, a PE ratio of 16.26, a P/E/G ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. The stock’s 50 day moving average price is $48.67 and its 200 day moving average price is $52.71. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently made changes to their positions in RRR. Quarry LP boosted its holdings in Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE boosted its stake in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after acquiring an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts in the 2nd quarter worth approximately $98,000. nVerses Capital LLC increased its stake in Red Rock Resorts by 28.6% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after purchasing an additional 800 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its holdings 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. 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.