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

Red Rock Resorts (NASDAQ:RRR) had its price target reduced by research analysts at Barclays from $58.00 to $54.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 29.03% from the company’s previous close.

RRR has been the subject of a number of other research reports. Truist Financial decreased their price objective on shares of 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. JMP Securities decreased their target price on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus upped their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Mizuho increased their price objective on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Susquehanna reduced their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.33.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $41.85 on Tuesday. Red Rock Resorts has a 52-week low of $35.09 and a 52-week high of $61.73. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 4.32 and a beta of 1.69. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock’s fifty day simple moving average is $44.63 and its 200 day simple moving average is $47.80.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, sell-side analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Arizona State Retirement System boosted its stake in Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock valued at $680,000 after purchasing an additional 216 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Red Rock Resorts by 3.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company’s stock valued at $492,000 after acquiring an additional 314 shares during the period. Mayfair Advisory Group LLC grew its stake in shares of Red Rock Resorts by 8.1% in the first quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company’s stock worth $211,000 after acquiring an additional 364 shares during the last quarter. KBC Group NV increased its position in Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.