Truist Financial Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective decreased by investment analysts at Truist Financial from $56.00 to $49.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 5.29% from the stock’s previous close.

RRR has been the subject of several other research reports. Jefferies Financial Group reissued 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. Wells Fargo & Company decreased their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their price target for the company from $57.00 to $44.00 in a report on Monday, November 25th. Macquarie decreased their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.00.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $46.54 on Tuesday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The business’s 50-day moving average price is $48.52 and its two-hundred day moving average price is $52.64. The company has a market capitalization of $4.92 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP raised its stake in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE increased its holdings in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Red Rock Resorts during the second quarter valued at about $98,000. nVerses Capital LLC lifted its stake in shares of Red Rock Resorts by 28.6% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after buying an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC grew its position in Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. Institutional investors and hedge funds 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.