Red Rock Resorts, Inc. (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “

Other equities analysts have also recently issued research reports about the company. Bank of America Corporation reissued 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. Stifel Nicolaus reissued a “buy” rating and set a $27.00 price target on shares of Red Rock Resorts in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $26.14.

Red Rock Resorts (NASDAQ:RRR) opened at 23.58 on Tuesday. The company has a 50 day moving average price of $23.79 and a 200-day moving average price of $23.09. Red Rock Resorts has a 52 week low of $20.58 and a 52 week high of $24.67. The firm’s market capitalization is $1.55 billion.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The company had revenue of $417.73 million during the quarter, compared to analyst estimates of $402.88 million. Red Rock Resorts had a net margin of 3.58% and a return on equity of 10.00%. Red Rock Resorts’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts predict that Red Rock Resorts will post $1.33 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of Red Rock Resorts by 100.9% in the first quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock worth $111,000 after buying an additional 2,522 shares during the last quarter. UBS Group AG raised its stake in Red Rock Resorts by 340.6% in the first quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after buying an additional 6,724 shares during the period. SG Americas Securities LLC raised its stake in Red Rock Resorts by 29.8% in the first quarter. SG Americas Securities LLC now owns 11,177 shares of the company’s stock worth $248,000 after buying an additional 2,568 shares during the period. Guggenheim Capital LLC bought a new stake in Red Rock Resorts during the fourth quarter worth approximately $275,000. Finally, PEAK6 Investments L.P. bought a new stake in Red Rock Resorts during the first quarter worth approximately $288,000. 58.44% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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