Morgan Stanley Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $43.00

Red Rock Resorts (NASDAQ:RRR) had its target price dropped by equities researchers at Morgan Stanley from $45.00 to $43.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 5.65% from the company’s current price.

Several other research analysts have also weighed in on RRR. JMP Securities lowered their target price on shares of 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. Truist Financial dropped their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Stifel Nicolaus increased their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Mizuho boosted their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.33.

Red Rock Resorts Trading Down 0.1 %

Shares of RRR opened at $40.70 on Wednesday. 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 firm has a 50-day moving average price of $45.49 and a 200 day moving average price of $48.18. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $61.73. The firm has a market capitalization of $4.32 billion, a P/E ratio of 16.22, a P/E/G ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Sell-side analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently made changes to their positions in RRR. Bamco Inc. NY lifted its stake in Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after buying an additional 732,917 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Red Rock Resorts by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after buying an additional 50,193 shares during the last quarter. Eminence Capital LP increased its position in Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock valued at $95,097,000 after acquiring an additional 546,047 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after acquiring an additional 258,310 shares during the last quarter. Finally, Long Pond Capital LP increased its holdings in shares of Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after purchasing an additional 866,320 shares during the period. Hedge funds and other institutional investors 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.