Red Rock Resorts (NASDAQ:RRR) Stock Rating Lowered by Zacks Research

Red Rock Resorts (NASDAQ:RRR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also commented on the company. Weiss Ratings lowered Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 17th. Citigroup decreased their target price on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 target price on shares of Red Rock Resorts in a research note on Thursday, April 30th. Benchmark decreased their target price on Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Wells Fargo & Company decreased their target price on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.67.

Red Rock Resorts Price Performance

Shares of RRR opened at $53.74 on Wednesday. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. Red Rock Resorts has a one year low of $43.76 and a one year high of $68.99. The stock’s fifty day moving average is $56.89 and its 200-day moving average is $59.15.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The business had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 58.18%. Red Rock Resorts’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Equities analysts anticipate that Red Rock Resorts will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Red Rock Resorts by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 487,538 shares of the company’s stock worth $26,013,000 after purchasing an additional 5,685 shares in the last quarter. Swiss National Bank increased its stake in Red Rock Resorts by 1.0% in the 1st quarter. Swiss National Bank now owns 100,800 shares of the company’s stock worth $5,379,000 after purchasing an additional 1,000 shares in the last quarter. Bessemer Group Inc. increased its stake in Red Rock Resorts by 48.5% in the 1st quarter. Bessemer Group Inc. now owns 81,494 shares of the company’s stock worth $4,349,000 after purchasing an additional 26,600 shares in the last quarter. Gerald Baker Financial Group LLC purchased a new position in Red Rock Resorts in the 1st quarter worth about $798,000. Finally, Principal Financial Group Inc. increased its stake in Red Rock Resorts by 24.1% in the 1st quarter. Principal Financial Group Inc. now owns 287,633 shares of the company’s stock worth $15,348,000 after purchasing an additional 55,845 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

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.