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

Red Rock Resorts (NASDAQ:RRR) had its target price decreased by equities research analysts at JMP Securities from $59.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 35.14% from the stock’s current price.

RRR has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial dropped their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Susquehanna lowered 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 report on Wednesday. Mizuho raised their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.33.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $40.70 on Thursday. The stock’s fifty day moving average is $45.29 and its 200 day moving average is $48.08. Red Rock Resorts has a one year low of $35.09 and a one year high of $61.73. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $4.32 billion, a P/E ratio of 16.22, a P/E/G ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Sell-side analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently bought and sold shares of RRR. Y Intercept Hong Kong Ltd bought a new position in shares of Red Rock Resorts in the third quarter worth about $233,000. Barclays PLC increased its position in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after acquiring an additional 54,863 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 valued at $63,776,000 after acquiring an additional 14,029 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Red Rock Resorts in the third quarter valued at approximately $345,000. Finally, JPMorgan Chase & Co. grew its stake in Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after purchasing an additional 14,148 shares in the last quarter. 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.