BidaskClub cut shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a sell rating in a research note published on Saturday morning, BidAskClub reports.

A number of other brokerages have also recently issued reports on RRR. Nomura Instinet reduced their target price on Red Rock Resorts from $30.00 to $14.00 and set a buy rating on the stock in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their target price on shares of Red Rock Resorts from $30.00 to $13.00 and set an overweight rating for the company in a research note on Wednesday, May 20th. Deutsche Bank cut their target price on shares of Red Rock Resorts from $31.00 to $14.00 and set a buy rating on the stock in a report on Wednesday, May 20th. Nomura lowered their price objective on shares of Red Rock Resorts from $30.00 to $14.00 in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus dropped their price objective on Red Rock Resorts from $28.00 to $13.00 and set a hold rating on the stock in a research note on Wednesday, May 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Red Rock Resorts presently has an average rating of Hold and a consensus price target of $17.67.

Red Rock Resorts stock opened at $10.25 on Friday. The business’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $16.70. The company has a quick ratio of 4.79, a current ratio of 4.86 and a debt-to-equity ratio of 6.68. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -4.25 and a beta of 2.63. Red Rock Resorts has a 12-month low of $2.76 and a 12-month high of $27.91.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, May 19th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($2.31). Red Rock Resorts had a negative net margin of 9.34% and a positive return on equity of 4.27%. The business had revenue of $377.40 million during the quarter, compared to the consensus estimate of $393.43 million. During the same period last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was down 15.6% compared to the same quarter last year. As a group, sell-side analysts expect that Red Rock Resorts will post -3.25 EPS for the current year.

Several hedge funds have recently bought and sold shares of RRR. First Trust Advisors LP bought a new position in shares of Red Rock Resorts during the 1st quarter worth approximately $486,000. Rhumbline Advisers boosted its holdings in Red Rock Resorts by 3.0% during the fourth quarter. Rhumbline Advisers now owns 95,242 shares of the company’s stock worth $2,281,000 after purchasing an additional 2,803 shares during the last quarter. Swiss National Bank grew its position in Red Rock Resorts by 2.1% in the fourth quarter. Swiss National Bank now owns 134,700 shares of the company’s stock valued at $3,226,000 after purchasing an additional 2,800 shares in the last quarter. State Street Corp increased its stake in Red Rock Resorts by 1.0% in the 4th quarter. State Street Corp now owns 1,452,299 shares of the company’s stock valued at $34,783,000 after buying an additional 14,206 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Red Rock Resorts by 10.0% during the 4th quarter. Victory Capital Management Inc. now owns 11,370 shares of the company’s stock worth $272,000 after buying an additional 1,033 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

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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