Susquehanna Issues Positive Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price target hoisted by equities research analysts at Susquehanna from $60.00 to $61.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 14.19% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Barclays reduced their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Macquarie cut their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial cut their target price on 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. Finally, Wells Fargo & Company lowered their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Red Rock Resorts Stock Performance

Shares of RRR stock traded up $2.50 during trading hours on Wednesday, reaching $53.42. 176,073 shares of the company’s stock were exchanged, compared to its average volume of 624,526. The business has a fifty day moving average price of $47.30 and a 200-day moving average price of $51.35. The stock has a market capitalization of $5.64 billion, a P/E ratio of 19.78, a P/E/G ratio of 5.28 and a beta of 2.02. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a fifty-two week low of $42.46 and a fifty-two week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. Analysts predict that Red Rock Resorts will post 1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its position in shares of Red Rock Resorts by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock valued at $680,000 after acquiring an additional 216 shares during the period. Avior Wealth Management LLC boosted its holdings in Red Rock Resorts by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock valued at $430,000 after purchasing an additional 232 shares during the period. KBC Group NV grew its position in shares of Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after buying an additional 591 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Red Rock Resorts by 1.2% in the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock valued at $3,487,000 after buying an additional 765 shares during the period. 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.