Red Rock Resorts (NASDAQ:RRR) Stock Gets Downgrade from Wall Street Zen

Red Rock Resorts (NASDAQ:RRR) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Red Rock Resorts from $78.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial increased their target price on Red Rock Resorts from $68.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 20th. Barclays increased their target price on Red Rock Resorts from $73.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 9th. JPMorgan Chase & Co. lowered their price target on Red Rock Resorts from $71.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. Finally, Citigroup dropped their price target on Red Rock Resorts from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday. One 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.35.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $48.22 on Friday. The stock’s 50-day moving average price is $51.53 and its two-hundred day moving average price is $57.85. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 13.23. The company has a market cap of $5.06 billion, a PE ratio of 24.35, a PEG ratio of 4.89 and a beta of 1.42. Red Rock Resorts has a 1 year low of $46.29 and a 1 year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, November 3rd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.62). The firm had revenue of $488.70 million during the quarter, compared to analysts’ expectations of $478.13 million. Red Rock Resorts had a return on equity of 44.39% and a net margin of 5.79%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. On average, analysts predict that Red Rock Resorts will post 1.39 EPS for the current year.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently bought and sold shares of RRR. Rockefeller Capital Management L.P. raised its stake in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after acquiring an additional 481 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Red Rock Resorts by 4,566.7% in the 3rd quarter. Fortitude Family Office LLC now owns 560 shares of the company’s stock worth $28,000 after acquiring an additional 548 shares in the last quarter. Nykredit A S bought a new stake in Red Rock Resorts during the 2nd quarter worth approximately $45,000. Public Employees Retirement System of Ohio bought a new stake in Red Rock Resorts during the 2nd quarter worth approximately $47,000. Finally, Ameritas Advisory Services LLC bought a new stake in Red Rock Resorts during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company focused on the Las Vegas market. Through its subsidiary Station Casinos LLC, it owns and operates casino resorts and other gaming and entertainment properties, primarily serving residents of the Las Vegas area.

Its properties include casino gaming, restaurants, bars, hotels and entertainment venues. The company’s portfolio includes resorts such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa & Casino, and Durango Casino & Resort, along with several Station-branded properties.

The company traces its roots to Station Casinos, founded in 1976.