Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $49.00 by Analysts at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price target cut by investment analysts at Truist Financial from $56.00 to $49.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 11.59% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Macquarie decreased their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Wells Fargo & Company cut their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.00.

Red Rock Resorts Stock Up 1.7 %

Shares of RRR opened at $43.91 on Tuesday. The company’s 50-day moving average price is $48.67 and its 200 day moving average price is $52.71. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a market cap of $4.64 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01.

Hedge Funds Weigh In On Red Rock Resorts

Several large investors have recently bought and sold shares of RRR. Quarry LP increased its holdings in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares during the last quarter. US Bancorp DE boosted its holdings in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC raised its holdings in Red Rock Resorts by 28.6% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares in the last quarter. Finally, Mayfair Advisory Group LLC purchased a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors 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.