Red Rock Resorts (NASDAQ:RRR) Rating Increased to Hold at Wall Street Zen

Red Rock Resorts (NASDAQ:RRR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

RRR has been the subject of several other research reports. Zacks Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Citizens Jmp dropped their price objective on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Stifel Nicolaus set a $70.00 price objective on Red Rock Resorts in a report on Friday, May 29th. The Goldman Sachs Group began coverage on Red Rock Resorts in a research report on Friday, June 26th. They issued a “buy” rating and a $72.00 target price for the company. Finally, Morgan Stanley set a $59.00 price target on shares of Red Rock Resorts in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.12.

Red Rock Resorts Stock Up 1.1%

Shares of NASDAQ:RRR traded up $0.72 during trading on Friday, reaching $64.21. 477,221 shares of the stock traded hands, compared to its average volume of 716,029. The stock has a 50-day moving average of $58.77 and a two-hundred day moving average of $59.58. Red Rock Resorts has a 52-week low of $50.52 and a 52-week high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market cap of $6.74 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 4.86 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same period last year, the business earned $0.75 EPS. Red Rock Resorts’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Red Rock Resorts will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in shares of Red Rock Resorts during the 4th quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. boosted its holdings 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 worth $31,000 after buying an additional 481 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Red Rock Resorts by 98.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after buying an additional 733 shares during the period. 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.