Stock analysts at Telsey Advisory Group started coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a research note issued to investors on Tuesday, March 13th, MarketBeat.com reports. The brokerage set a “market perform” rating and a $32.00 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 2.40% from the company’s previous close.
Several other brokerages have also recently weighed in on RRR. Deutsche Bank reiterated a “buy” rating and issued a $38.00 target price on shares of Red Rock Resorts in a report on Thursday, December 21st. Zacks Investment Research cut Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Stifel Nicolaus cut Red Rock Resorts from a “buy” rating to a “hold” rating and upped their target price for the stock from $29.00 to $37.00 in a report on Friday, February 23rd. They noted that the move was a valuation call. ValuEngine upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, BidaskClub cut Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Red Rock Resorts presently has an average rating of “Buy” and a consensus target price of $32.75.
Shares of Red Rock Resorts stock traded up $0.23 during trading on Tuesday, reaching $31.25. The company’s stock had a trading volume of 326,368 shares, compared to its average volume of 654,922. The company has a market cap of $3,634.24, a P/E ratio of 73.86 and a beta of 1.15. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 4.06. Red Rock Resorts has a 12 month low of $21.07 and a 12 month high of $35.77.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Red Rock Resorts had a return on equity of 16.11% and a net margin of 2.18%. The company had revenue of $394.02 million for the quarter, compared to the consensus estimate of $406.75 million. equities analysts anticipate that Red Rock Resorts will post 1.19 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at about $342,000. Millennium Management LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at about $35,370,000. TIAA CREF Investment Management LLC increased its holdings in shares of Red Rock Resorts by 46.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock valued at $48,250,000 after purchasing an additional 451,588 shares during the period. Teachers Advisors LLC increased its holdings in shares of Red Rock Resorts by 125.5% in the fourth quarter. Teachers Advisors LLC now owns 1,942,818 shares of the company’s stock valued at $65,551,000 after purchasing an additional 1,081,326 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Red Rock Resorts by 7.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,084,781 shares of the company’s stock valued at $36,600,000 after purchasing an additional 76,545 shares during the period. Institutional investors own 63.22% of the company’s stock.
WARNING: This news story was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/03/20/red-rock-resorts-rrr-coverage-initiated-at-telsey-advisory-group.html.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.