Susquehanna Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $60.00

Red Rock Resorts (NASDAQ:RRR) had its price target cut by investment analysts at Susquehanna from $66.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 22.90% from the stock’s previous close.

Several other research firms have also commented on RRR. Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company decreased 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 note on Thursday, October 17th. JMP Securities decreased their price target on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, Macquarie decreased 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.25.

Red Rock Resorts Trading Up 0.6 %

RRR opened at $48.82 on Tuesday. The firm has a market cap of $5.16 billion, a P/E ratio of 18.08, a P/E/G ratio of 5.30 and a beta of 2.02. 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 stock has a 50-day moving average of $47.34 and a 200 day moving average of $51.62.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.37 by $0.11. The company had revenue of $468.02 million during the quarter, compared to analyst estimates of $460.73 million. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. During the same quarter last year, the business posted $0.60 earnings per share. As a group, research analysts forecast that Red Rock Resorts will post 1.44 EPS for the current year.

Hedge Funds Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of RRR. Barclays PLC grew its holdings in Red Rock Resorts by 227.9% in the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after purchasing an additional 54,863 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Red Rock Resorts in the third quarter worth $842,000. Westfield Capital Management Co. LP grew its holdings in Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after purchasing an additional 38,443 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after purchasing an additional 14,148 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Red Rock Resorts by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after purchasing an additional 14,029 shares during the last quarter. 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.