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

Red Rock Resorts (NASDAQ:RRR) had its price target trimmed by Susquehanna from $66.00 to $60.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the stock.

A number of other analysts have also recently commented on RRR. JMP Securities lowered their price target on 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 issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Barclays lowered their price target on 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. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Finally, Truist Financial lowered their price target on 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. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.25.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $48.88 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 1 year low of $42.46 and a 1 year high of $63.28. The company has a market cap of $5.16 billion, a PE ratio of 18.10, a PEG ratio of 5.30 and a beta of 2.02. The company’s 50-day moving average is $47.32 and its two-hundred day moving average is $51.61.

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

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently bought and sold shares of the company. Quarry LP boosted its position in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after acquiring an additional 930 shares during the last quarter. US Bancorp DE boosted its position in 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 acquiring an additional 1,490 shares during the last quarter. KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th 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 last quarter. nVerses Capital LLC boosted its holdings in shares of Red Rock Resorts by 28.6% in the 3rd 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 last quarter. Finally, Mayfair Advisory Group LLC acquired a new stake in shares of Red Rock Resorts in the 3rd quarter valued at approximately $218,000. 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.