Red Rock Resorts (NASDAQ:RRR) Rating Lowered to Neutral at Bank of America

Red Rock Resorts (NASDAQ:RRR) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, January 6th, MarketBeat Ratings reports.

Other analysts have also issued reports about the company. ValuEngine lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. BidaskClub upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Union Gaming Research lowered Red Rock Resorts from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $22.00 in a research report on Wednesday, November 6th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $25.00 price objective on shares of Red Rock Resorts in a research report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $25.57.

Shares of NASDAQ RRR traded up $1.09 during midday trading on Monday, reaching $24.37. 175,953 shares of the company traded hands, compared to its average volume of 347,515. Red Rock Resorts has a 12 month low of $16.76 and a 12 month high of $29.80. The firm has a market cap of $2.70 billion, a PE ratio of 18.60 and a beta of 2.08. The company has a debt-to-equity ratio of 3.85, a quick ratio of 0.90 and a current ratio of 0.96. The stock’s 50-day simple moving average is $23.59 and its 200-day simple moving average is $21.72.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. Red Rock Resorts had a return on equity of 7.58% and a net margin of 0.04%. The company had revenue of $465.86 million during the quarter, compared to analyst estimates of $469.74 million. On average, equities research analysts expect that Red Rock Resorts will post 0.05 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new stake in Red Rock Resorts in the 3rd quarter valued at approximately $33,000. Tower Research Capital LLC TRC increased its position in shares of Red Rock Resorts by 1,848.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock worth $37,000 after purchasing an additional 1,719 shares during the last quarter. Bank of Montreal Can increased its position in shares of Red Rock Resorts by 1,067.9% during the 2nd quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock worth $138,000 after purchasing an additional 5,863 shares during the last quarter. Zebra Capital Management LLC acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $215,000. Finally, Green Square Asset Management LLC acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $217,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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