Red Rock Resorts, Inc. (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, July 5th.

According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “

Other equities research analysts have also recently issued research reports about the stock. Bank of America Corporation reiterated a “buy” rating and set a $26.00 price objective (up previously from $24.50) on shares of Red Rock Resorts in a research report on Monday, June 5th. Stifel Nicolaus dropped their price objective on shares of Red Rock Resorts from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Red Rock Resorts in a research note on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Red Rock Resorts has an average rating of “Buy” and an average price target of $26.14.

Red Rock Resorts (RRR) traded down 0.04% during midday trading on Wednesday, reaching $23.97. The company’s stock had a trading volume of 248,462 shares. The firm has a 50 day moving average price of $23.79 and a 200-day moving average price of $23.09. Red Rock Resorts has a 52 week low of $20.58 and a 52 week high of $24.67. The firm has a market cap of $1.62 billion, a P/E ratio of 34.74 and a beta of 0.53.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Thursday, May 4th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $417.73 million for the quarter, compared to the consensus estimate of $402.88 million. Red Rock Resorts had a return on equity of 10.00% and a net margin of 3.58%. Red Rock Resorts’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. On average, analysts forecast that Red Rock Resorts will post $1.33 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in Red Rock Resorts by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,751,102 shares of the company’s stock valued at $38,840,000 after buying an additional 74,797 shares during the period. Tudor Investment Corp ET AL raised its position in Red Rock Resorts by 15.1% in the first quarter. Tudor Investment Corp ET AL now owns 34,469 shares of the company’s stock valued at $765,000 after buying an additional 4,531 shares during the period. Highbridge Capital Management LLC purchased a new position in Red Rock Resorts during the first quarter valued at approximately $923,000. PEAK6 Investments L.P. bought a new position in Red Rock Resorts during the first quarter worth about $288,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Red Rock Resorts during the first quarter worth about $684,000. Institutional investors own 58.44% of the company’s stock.

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.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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