Red Rock Resorts Inc. (RRR) Stock Rating Lowered by Zacks Investment Research
Red Rock Resorts Inc. (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday.
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 research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Red Rock Resorts in a research note on Tuesday, August 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price target on shares of Red Rock Resorts in a research note on Saturday, August 13th. Goldman Sachs Group Inc. started coverage on Red Rock Resorts in a research note on Monday, September 26th. They issued a “neutral” rating and a $22.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Red Rock Resorts in a research note on Friday, September 9th. Finally, Gabelli started coverage on Red Rock Resorts in a research note on Friday. They issued a “buy” rating and a $29.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.13.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/red-rock-resorts-inc-rrr-stock-rating-lowered-by-zacks-investment-research.html
Shares of Red Rock Resorts (NASDAQ:RRR) opened at 22.24 on Tuesday. Red Rock Resorts has a 12 month low of $18.25 and a 12 month high of $23.87. The stock has a market capitalization of $2.58 billion and a price-to-earnings ratio of 18.86. The stock’s 50 day moving average price is $22.43 and its 200 day moving average price is $21.67.
Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Monday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.39. The firm earned $351.50 million during the quarter, compared to analysts’ expectations of $350.07 million. The business’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that Red Rock Resorts will post $1.21 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. acquired a new position in shares of Red Rock Resorts during the second quarter worth about $8,591,000. Public Employees Retirement System of Ohio acquired a new position in shares of Red Rock Resorts during the second quarter worth about $1,997,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Red Rock Resorts during the second quarter worth about $1,840,000. Stifel Financial Corp acquired a new position in shares of Red Rock Resorts during the second quarter worth about $1,368,000. Finally, Legal & General Group Plc acquired a new position in shares of Red Rock Resorts during the second quarter worth about $164,000.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company develops and operates casino entertainment properties. The Company owns and operates over nine gaming and entertainment facilities and over 10 smaller casinos in the Las Vegas regional market. In addition, the Company manages Graton Resort in Sonoma County, California, and Gun Lake in Allegan County, Michigan.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Red Rock Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.