Red Rock Resorts, Inc. (NASDAQ:RRR) Downgraded by Zacks Investment Research

Red Rock Resorts, Inc. (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, July 18th.

According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $27.00 price target on shares of Red Rock Resorts in a report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $26.00 price target (up previously from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.14.

Shares of Red Rock Resorts (NASDAQ RRR) traded down 0.854% during mid-day trading on Tuesday, hitting $23.805. The stock had a trading volume of 435,922 shares. Red Rock Resorts has a 12-month low of $20.58 and a 12-month high of $24.94. The stock’s market capitalization is $1.56 billion. The stock’s 50-day moving average price is $23.86 and its 200-day moving average price is $23.16.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.07. The company had revenue of $417.73 million during the quarter, compared to the consensus estimate of $402.88 million. Red Rock Resorts had a return on equity of 10.00% and a net margin of 3.58%. Red Rock Resorts’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. On average, equities analysts anticipate that Red Rock Resorts will post $1.33 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Red Rock Resorts by 14,324.5% in the first quarter. Creative Planning now owns 28,849 shares of the company’s stock valued at $640,000 after buying an additional 28,649 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Red Rock Resorts during the first quarter valued at $684,000. Bank of New York Mellon Corp boosted its stake in shares of Red Rock Resorts by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock valued at $8,593,000 after buying an additional 34,778 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Red Rock Resorts during the first quarter valued at $1,558,000. Finally, KRV Capital LP acquired a new stake in shares of Red Rock Resorts during the first quarter valued at $8,428,000. Institutional investors own 58.42% of the company’s stock.

About Red Rock Resorts

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.

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