Jefferies Financial Group Reaffirms Hold Rating for Red Rock Resorts (NASDAQ:RRR)

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Financial Group in a report issued on Friday, MarketBeat reports. They currently have a $51.00 price objective on the stock, down from their previous price objective of $64.00. Jefferies Financial Group’s price objective would indicate a potential upside of 13.56% from the company’s previous close.

RRR has been the topic of several other research reports. Barclays cut their price target on 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. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Macquarie decreased their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial decreased their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.69.

Red Rock Resorts Price Performance

RRR opened at $44.91 on Friday. Red Rock Resorts has a twelve month low of $43.64 and a twelve month high of $63.28. 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 current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a fifty day simple moving average of $49.69 and a 200 day simple moving average of $53.07.

Institutional Investors Weigh In On Red Rock Resorts

Large investors have recently modified their holdings of the stock. Quarry LP grew its holdings in shares of Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE lifted its position in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts during the second quarter worth approximately $98,000. nVerses Capital LLC increased its stake in 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 period. Finally, Ritholtz Wealth Management purchased a new stake in shares of Red Rock Resorts during the third quarter worth $215,000. 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.