Red Rock Resorts (NASDAQ:RRR) Earns Hold Rating from Jefferies Financial Group

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Financial Group in a research note issued to investors on Friday, MarketBeat reports. They presently have a $51.00 price objective on the stock, down from their prior price objective of $64.00. Jefferies Financial Group’s price target points to a potential upside of 13.56% from the company’s current price.

A number of other equities analysts have also issued reports on RRR. Wells Fargo & Company lowered their target price on shares of 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. Truist Financial dropped their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Macquarie reduced their price objective on 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Hold” and an average price target of $59.69.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $44.91 on Friday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 6.69 and a beta of 2.01. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts has a 1 year low of $43.64 and a 1 year high of $63.28. The stock’s 50-day moving average is $49.69 and its two-hundred day moving average is $53.07.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP increased its position in Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE raised its holdings in shares of Red Rock Resorts by 2,223.9% in 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 in the 2nd quarter valued at about $98,000. nVerses Capital LLC grew its holdings in shares of Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC acquired a new stake in Red Rock Resorts during the 3rd quarter worth approximately $218,000. Hedge funds and other 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.