Stock analysts at Telsey Advisory Group began coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a report issued on Tuesday, March 13th, MarketBeat.com reports. The firm set a “market perform” rating and a $32.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 4.27% from the stock’s current price.
RRR has been the subject of several other research reports. Zacks Investment Research downgraded Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Deutsche Bank reissued a “buy” rating and issued a $38.00 price target on shares of Red Rock Resorts in a report on Thursday, December 21st. BidaskClub downgraded Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. ValuEngine raised Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Finally, Stifel Nicolaus downgraded Red Rock Resorts from a “buy” rating to a “hold” rating and increased their price target for the company from $29.00 to $37.00 in a report on Friday, February 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $32.75.
Shares of Red Rock Resorts stock traded down $0.40 during midday trading on Tuesday, hitting $30.69. The stock had a trading volume of 58,498 shares, compared to its average volume of 637,697. Red Rock Resorts has a 52 week low of $21.07 and a 52 week high of $35.77. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.43 and a quick ratio of 1.38. The stock has a market capitalization of $3,630.75, a P/E ratio of 22.81 and a beta of 1.15.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 27th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Red Rock Resorts had a return on equity of 16.11% and a net margin of 2.18%. The company had revenue of $394.02 million during the quarter, compared to the consensus estimate of $406.75 million. sell-side analysts expect that Red Rock Resorts will post 1.19 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its holdings in Red Rock Resorts by 13.8% during the 4th quarter. Bamco Inc. NY now owns 8,074,735 shares of the company’s stock worth $272,442,000 after buying an additional 978,754 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Red Rock Resorts by 46.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,285,300 shares of the company’s stock worth $99,248,000 after buying an additional 1,366,300 shares during the last quarter. BlackRock Inc. lifted its holdings in Red Rock Resorts by 2.8% during the 4th quarter. BlackRock Inc. now owns 4,243,952 shares of the company’s stock worth $143,190,000 after buying an additional 117,236 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Red Rock Resorts by 125.5% during the 4th quarter. Teachers Advisors LLC now owns 1,942,818 shares of the company’s stock worth $65,551,000 after buying an additional 1,081,326 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in Red Rock Resorts by 46.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock worth $48,250,000 after buying an additional 451,588 shares during the last quarter. 63.22% of the stock is currently owned by institutional investors.
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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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