Red Rock Resorts (NASDAQ:RRR) Downgraded to Hold at StockNews.com

Red Rock Resorts (NASDAQ:RRR – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

RRR has been the topic of several other research reports. TheStreet raised Red Rock Resorts from a “c” rating to a “b-” rating in a research note on Tuesday, February 28th. JMP Securities increased their target price on Red Rock Resorts from $51.00 to $54.00 in a research note on Friday, May 5th. Wells Fargo & Company increased their target price on Red Rock Resorts from $54.00 to $56.00 in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft increased their target price on Red Rock Resorts from $53.00 to $55.00 in a research note on Friday, May 5th. Finally, Truist Financial increased their target price on Red Rock Resorts from $45.00 to $49.00 in a research note on Wednesday, February 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.09.

Red Rock Resorts Price Performance

Shares of RRR stock traded down $0.01 during trading hours on Friday, hitting $45.63. 264,212 shares of the company’s stock were exchanged, compared to its average volume of 453,228. The stock’s 50-day moving average is $45.37 and its 200-day moving average is $44.27. The company has a debt-to-equity ratio of 32.33, a current ratio of 0.65 and a quick ratio of 0.61. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 6.69 and a beta of 2.17. Red Rock Resorts has a 52 week low of $30.98 and a 52 week high of $49.81.

Red Rock Resorts (NASDAQ:RRR – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.47 by $0.28. Red Rock Resorts had a return on equity of 808.22% and a net margin of 11.90%. The company had revenue of $433.64 million for the quarter, compared to analysts’ expectations of $413.05 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts forecast that Red Rock Resorts will post 1.82 EPS for the current year.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its holdings in Red Rock Resorts by 1.9% in the 1st quarter. Arizona State Retirement System now owns 15,125 shares of the company’s stock valued at $674,000 after acquiring an additional 282 shares in the last quarter. Creative Planning raised its holdings in Red Rock Resorts by 5.3% in the 2nd quarter. Creative Planning now owns 6,048 shares of the company’s stock valued at $202,000 after acquiring an additional 305 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Red Rock Resorts by 4.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 11,459 shares of the company’s stock valued at $458,000 after acquiring an additional 530 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Red Rock Resorts in the 1st quarter valued at $30,000. Finally, Global Wealth Strategies & Associates acquired a new position in Red Rock Resorts in the 4th quarter valued at $25,000. 52.45% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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Red Rock Resorts, Inc is a holding company, which engages in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet spaces, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.