Citigroup Issues Pessimistic Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by equities researchers at Citigroup from $69.00 to $65.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s target price suggests a potential upside of 34.80% from the company’s current price.

RRR has been the subject of several other research reports. Bank of America upped their price target on shares of Red Rock Resorts from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Texas Capital upgraded shares of Red Rock Resorts to a “strong-buy” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. cut their price objective on shares of Red Rock Resorts from $71.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Red Rock Resorts from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Finally, Susquehanna reiterated a “positive” rating and set a $64.00 target price on shares of Red Rock Resorts in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.35.

Red Rock Resorts Stock Up 0.5%

Shares of RRR traded up $0.26 on Thursday, hitting $48.22. The company’s stock had a trading volume of 957,459 shares, compared to its average volume of 727,304. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33. The firm’s fifty day moving average price is $51.53 and its 200-day moving average price is $57.85. Red Rock Resorts has a fifty-two week low of $46.29 and a fifty-two week high of $68.99. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 4.25 and a beta of 1.42.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.62). The business had revenue of $488.70 million for the quarter, compared to the consensus estimate of $478.13 million. Red Rock Resorts had a return on equity of 56.19% and a net margin of 8.43%. Red Rock Resorts’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts expect that Red Rock Resorts will post 1.56 EPS for the current year.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently made changes to their positions in RRR. Valeo Financial Advisors LLC boosted its holdings in Red Rock Resorts by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock worth $338,000 after purchasing an additional 234 shares during the last quarter. GAMMA Investing LLC increased its stake in Red Rock Resorts by 64.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,058 shares of the company’s stock valued at $52,000 after buying an additional 413 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in 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 buying an additional 481 shares during the last quarter. Inceptionr LLC lifted its position in Red Rock Resorts by 3.9% during the 1st quarter. Inceptionr LLC now owns 13,283 shares of the company’s stock worth $709,000 after buying an additional 499 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its position in Red Rock Resorts by 4,566.7% during the 3rd quarter. Fortitude Family Office LLC now owns 560 shares of the company’s stock worth $28,000 after buying an additional 548 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company develops, owns and operates casino resorts and other gaming properties, primarily serving the Las Vegas locals market.

Its portfolio includes destination-style properties such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, and Durango Casino & Resort, along with neighborhood casinos including Palace Station, Boulder Station, Santa Fe Station and several Wildfire locations.