Red Rock Resorts (NASDAQ:RRR) Stock Gets Price Target Trim from Citigroup

Red Rock Resorts (NASDAQ:RRR) had its price target dropped by stock analysts at Citigroup from $69.00 to $65.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s target price points to a potential upside of 35.53% from the stock’s previous close.

RRR has been the subject of a number of other reports. Capital One Financial raised shares of Red Rock Resorts to a “buy” rating in a report on Wednesday, September 9th. Morgan Stanley reduced their target price on Red Rock Resorts from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Tuesday, October 13th. Bank of America lifted their price target on Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Wolfe Research initiated coverage on Red Rock Resorts in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $69.35.

Red Rock Resorts Price Performance

Shares of RRR stock traded down $0.70 during trading on Thursday, hitting $47.96. The company had a trading volume of 1,404,305 shares, compared to its average volume of 855,985. The stock’s 50-day moving average is $51.96 and its two-hundred day moving average is $57.99. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.72 and a beta of 1.42. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33. Red Rock Resorts has a 52 week low of $46.53 and a 52 week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.62). The company had revenue of $488.70 million during the quarter, compared to analysts’ expectations of $478.13 million. Red Rock Resorts had a return on equity of 44.10% and a net margin of 5.79%. Red Rock Resorts’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. As a group, analysts predict that Red Rock Resorts will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling at Red Rock Resorts

In related news, President Scott Kreeger sold 31,159 shares of Red Rock Resorts stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the sale, the president directly owned 203,881 shares in the company, valued at $12,595,768.18. The trade was a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 54.34% of the company’s stock.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Red Rock Resorts in the 2nd quarter valued at approximately $120,743,000. Dimensional Fund Advisors LP increased its holdings in shares of Red Rock Resorts by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 487,538 shares of the company’s stock worth $26,013,000 after purchasing an additional 5,685 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Red Rock Resorts by 204.7% in the 1st quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock worth $16,029,000 after purchasing an additional 201,800 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Red Rock Resorts by 24.1% in the first quarter. Principal Financial Group Inc. now owns 287,633 shares of the company’s stock worth $15,348,000 after purchasing an additional 55,845 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Red Rock Resorts by 1.0% in the first quarter. Swiss National Bank now owns 100,800 shares of the company’s stock worth $5,379,000 after purchasing an additional 1,000 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

More Red Rock Resorts News

Here are the key news stories impacting Red Rock Resorts this week:

• Positive Sentiment: Red Rock plans to invest $430 million in Durango North, targeting an opening in the third quarter of 2027 and a 20% return on investment. The expansion offers potential future growth, though it requires substantial capital. Durango North investment
• Positive Sentiment: The company declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a roughly 2.1% yield based on the reported figure. Third-quarter results and dividend
• Neutral Sentiment: Wells Fargo lowered its price target from $78 to $65 but kept an “overweight” rating. JPMorgan also cut its target, from $71 to $64, while retaining “overweight”; Citizens trimmed its target from $71 to $70 and maintained “market outperform.” Continued bullish ratings offer some support, but the target reductions reflect more cautious valuation expectations. Wells Fargo analyst update
• Negative Sentiment: Third-quarter earnings fell well short of analyst expectations and were substantially below the year-ago result, prompting a post-earnings slide. Revenue was a brighter spot: it increased 2.8% year over year to $488.7 million and exceeded estimates. The earnings miss appears to be the main near-term driver of investor concern. Third-quarter results

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company develops, owns and operates casino resorts and other gaming properties, primarily serving the Las Vegas locals market.

Its portfolio includes destination-style properties such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, and Durango Casino & Resort, along with neighborhood casinos including Palace Station, Boulder Station, Santa Fe Station and several Wildfire locations.