Red Rock Resorts (RRR) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of Red Rock Resorts (NASDAQ:RRR) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Several other research analysts have also recently issued reports on RRR. JPMorgan Chase & Co. reissued a buy rating and set a $33.00 price target on shares of Red Rock Resorts in a report on Tuesday, November 28th. SunTrust Banks assumed coverage on shares of Red Rock Resorts in a report on Thursday, September 14th. They set a buy rating and a $26.00 price target for the company. ValuEngine raised shares of Red Rock Resorts from a hold rating to a buy rating in a report on Sunday, December 31st. Zacks Investment Research cut shares of Red Rock Resorts from a hold rating to a sell rating in a report on Wednesday, October 11th. Finally, Bank of America increased their price target on shares of Red Rock Resorts from $26.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $30.50.

Shares of Red Rock Resorts (RRR) traded up $0.22 during trading hours on Thursday, hitting $32.91. 414,700 shares of the stock were exchanged, compared to its average volume of 594,033. Red Rock Resorts has a 1-year low of $20.87 and a 1-year high of $34.89. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 4.41. The stock has a market capitalization of $3,820.00 and a PE ratio of 31.95.

A number of institutional investors and hedge funds have recently modified their holdings of RRR. Bamco Inc. NY grew its position in Red Rock Resorts by 28.0% during the third quarter. Bamco Inc. NY now owns 7,095,981 shares of the company’s stock worth $164,343,000 after buying an additional 1,550,892 shares during the period. Point72 Asset Management L.P. grew its position in Red Rock Resorts by 46.8% during the third quarter. Point72 Asset Management L.P. now owns 4,285,300 shares of the company’s stock worth $99,248,000 after buying an additional 1,366,300 shares during the period. Vanguard Group Inc. grew its position in Red Rock Resorts by 16.0% during the second quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after buying an additional 666,099 shares during the period. Citadel Advisors LLC grew its position in Red Rock Resorts by 2,392.6% during the second quarter. Citadel Advisors LLC now owns 657,124 shares of the company’s stock worth $15,475,000 after buying an additional 630,761 shares during the period. Finally, State Street Corp grew its position in Red Rock Resorts by 109.5% during the second quarter. State Street Corp now owns 1,155,397 shares of the company’s stock worth $27,210,000 after buying an additional 604,001 shares during the period. Institutional investors own 64.35% of the company’s stock.

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Red Rock Resorts Company Profile

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.

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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