Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $43.00 at Morgan Stanley

Red Rock Resorts (NASDAQ:RRR) had its price target dropped by Morgan Stanley from $45.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 6.07% from the company’s current price.

RRR has been the subject of several other reports. JMP Securities dropped their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Susquehanna cut their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday. Truist Financial decreased their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Stifel Nicolaus increased their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.50.

Red Rock Resorts Stock Performance

Shares of RRR stock traded down $0.68 on Wednesday, hitting $40.54. The company had a trading volume of 254,609 shares, compared to its average volume of 562,266. Red Rock Resorts has a twelve month low of $35.09 and a twelve month 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. The firm has a market cap of $4.30 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69. The company has a 50-day moving average price of $45.86 and a 200-day moving average price of $48.32.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, equities research analysts predict that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after buying an additional 54,863 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after acquiring an additional 14,148 shares during the period. Ring Mountain Capital LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $487,000. OFI Invest Asset Management acquired a new position in shares of Red Rock Resorts during the fourth quarter worth about $2,054,000. Finally, Geode Capital Management LLC raised its holdings in Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after purchasing an additional 14,029 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.