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

Red Rock Resorts (NASDAQ:RRR) had its target price lowered by investment analysts at Barclays from $65.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 17.56% from the stock’s previous close.

Several other brokerages also recently issued reports on RRR. Truist Financial lowered their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Macquarie raised their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $62.33.

Red Rock Resorts Stock Down 5.2 %

Shares of NASDAQ RRR traded down $2.92 on Friday, hitting $52.74. The company had a trading volume of 2,184,388 shares, compared to its average volume of 473,003. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. Red Rock Resorts has a 12-month low of $40.22 and a 12-month high of $63.28. The firm has a market capitalization of $5.57 billion, a P/E ratio of 18.56, a PEG ratio of 5.96 and a beta of 2.04. The business has a 50 day moving average of $53.81 and a two-hundred day moving average of $54.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RRR. BNP Paribas Financial Markets grew its position in Red Rock Resorts by 35.5% in the first quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock worth $1,919,000 after buying an additional 8,402 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Red Rock Resorts in the first quarter worth approximately $236,000. Headlands Technologies LLC acquired a new stake in shares of Red Rock Resorts during the first quarter valued at approximately $78,000. ProShare Advisors LLC raised its holdings in shares of Red Rock Resorts by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after acquiring an additional 674 shares during the period. Finally, HBK Sorce Advisory LLC purchased a new position in Red Rock Resorts during the 1st quarter worth approximately $434,000. 47.84% of the stock is currently owned by institutional investors.

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.