JMP Securities Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective decreased by JMP Securities from $61.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 21.98% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Barclays lowered their price objective 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. Wells Fargo & Company cut their price objective 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. 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 report on Friday, November 8th. Mizuho cut 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. Finally, Truist Financial decreased their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.38.

Red Rock Resorts Stock Performance

RRR opened at $46.73 on Thursday. 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 50 day moving average price is $48.01 and its two-hundred day moving average price is $52.50. The firm has a market capitalization of $4.94 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 4.75 and a beta of 2.01. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in Red Rock Resorts by 11.8% in the fourth quarter. Avior Wealth Management LLC now owns 8,828 shares of the company’s stock valued at $408,000 after buying an additional 930 shares in the last quarter. Mayfair Advisory Group LLC raised its stake 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 acquiring an additional 591 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after acquiring an additional 14,148 shares in the last quarter. Virtu Financial LLC bought a new stake in Red Rock Resorts during the 3rd quarter worth approximately $345,000. Finally, Geode Capital Management LLC increased its holdings in Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

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.