Jefferies Financial Group Lowers Red Rock Resorts (NASDAQ:RRR) Price Target to $74.00

Red Rock Resorts (NASDAQ:RRR) had its target price cut by equities research analysts at Jefferies Financial Group from $79.00 to $74.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 32.88% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company raised their price objective on Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Truist Financial restated a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a report on Wednesday, February 11th. Benchmark assumed coverage on Red Rock Resorts in a report on Monday, March 23rd. They issued a “buy” rating and a $67.00 price objective on the stock. UBS Group set a $73.00 price objective on Red Rock Resorts in a report on Wednesday, December 24th. Finally, Morgan Stanley set a $62.00 price objective on Red Rock Resorts in a report on Thursday, February 12th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.50.

Red Rock Resorts Trading Down 0.1%

Shares of NASDAQ:RRR opened at $55.69 on Monday. Red Rock Resorts has a 1 year low of $36.85 and a 1 year high of $68.99. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.29 and a beta of 1.48. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. The business’s 50 day moving average price is $60.06 and its 200-day moving average price is $59.69.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. The firm had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. On average, equities research analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Red Rock Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of RRR. Arrowstreet Capital Limited Partnership increased its stake in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after acquiring an additional 1,296,956 shares during the last quarter. Invesco Ltd. increased its stake in shares of Red Rock Resorts by 345.6% in the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock worth $65,301,000 after acquiring an additional 817,524 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Red Rock Resorts in the 4th quarter worth $45,724,000. State Street Corp increased its stake in shares of Red Rock Resorts by 62.1% in the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock worth $112,428,000 after acquiring an additional 695,575 shares during the last quarter. Finally, Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 5.7% in the 2nd quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock worth $638,356,000 after acquiring an additional 666,593 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.