Red Rock Resorts (NASDAQ:RRR) Given New $62.00 Price Target at Citigroup

Red Rock Resorts (NASDAQ:RRR) had its price objective reduced by equities researchers at Citigroup from $76.00 to $62.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 17.27% from the stock’s previous close.

RRR has been the subject of several other research reports. Barclays increased their price target on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Benchmark dropped their price target on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial dropped their price target on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $72.00 price target on shares of Red Rock Resorts in a research note on Thursday. Finally, Stifel Nicolaus set a $72.00 price target on shares of Red Rock Resorts in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.93.

Red Rock Resorts Price Performance

Shares of RRR traded down $1.09 during mid-day trading on Friday, hitting $52.87. 613,102 shares of the company were exchanged, compared to its average volume of 840,281. Red Rock Resorts has a 1-year low of $42.25 and a 1-year high of $68.99. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The company has a 50 day moving average of $57.42 and a 200-day moving average of $59.23. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.49 and a beta of 1.48.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 58.18%. The business had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Red Rock Resorts will post 2.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of RRR. Salomon & Ludwin LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter valued at $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. raised its holdings in shares of Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Strs Ohio acquired a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $37,000. Finally, GAMMA Investing LLC raised its holdings in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Red Rock Resorts

Here are the key news stories impacting Red Rock Resorts this week:

• Positive Sentiment: Company declared a quarterly dividend of $0.26/share (ex‑dividend June 15), supporting income investors and signaling confidence in cash flow.
• Neutral Sentiment: Q1 2026 revenue came in roughly in line with expectations at $507.3M, up 1.9% year‑over‑year — a modest top‑line improvement but not a catalyst for a re‑rating. PR Newswire: Q1 Results
• Neutral Sentiment: Management hosted an earnings call and released supporting materials/slide deck for Q1; useful for investors but no major new guidance changes were highlighted. Slide Deck
• Negative Sentiment: Reported EPS of $0.73 missed the consensus cited by some outlets (~$0.90), which disappointed investors and pressured the stock. MarketBeat: Earnings Recap
• Negative Sentiment: Several sell‑side firms lowered price targets the same day (JPMorgan $73→$66, Citizens JMP $71→$67, Benchmark $67→$63, Truist $70→$68, Wells Fargo $59→$55). Although many kept buy/overweight ratings, the PT cuts reduce near‑term upside expectations and likely contributed to the share decline. Benzinga: Analyst PT Changes

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.