Red Rock Resorts (RRR) Lowered to “Strong Sell” at BidaskClub

Share on StockTwits

Red Rock Resorts (NASDAQ:RRR) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, BidAskClub reports.

A number of other brokerages have also recently issued reports on RRR. Zacks Investment Research upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. TheStreet upgraded shares of Red Rock Resorts from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. Nomura increased their price objective on shares of Red Rock Resorts to $32.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Red Rock Resorts in a research note on Wednesday, May 1st. Finally, Deutsche Bank restated a “buy” rating and issued a $31.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Red Rock Resorts currently has an average rating of “Hold” and an average price target of $30.80.

Shares of RRR stock opened at $22.48 on Friday. Red Rock Resorts has a 52-week low of $18.78 and a 52-week high of $36.99. The firm has a market capitalization of $2.62 billion, a PE ratio of 22.71 and a beta of 2.11. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 3.52.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.16). Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business had revenue of $447.00 million during the quarter, compared to analyst estimates of $445.50 million. During the same quarter in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Red Rock Resorts will post 1.02 earnings per share for the current year.

In other news, insider Joseph J. Hasson sold 56,300 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.74, for a total value of $1,449,162.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph J. Hasson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $28.83, for a total transaction of $43,245.00. Following the completion of the sale, the insider now directly owns 17,260 shares in the company, valued at approximately $497,605.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,721 shares of company stock worth $3,487,693. 0.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of RRR. Thrivent Financial for Lutherans bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $27,092,000. Norges Bank bought a new stake in Red Rock Resorts during the 4th quarter worth about $14,052,000. Diamond Hill Capital Management Inc. grew its holdings in Red Rock Resorts by 10.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock worth $133,488,000 after acquiring an additional 629,672 shares during the last quarter. FMR LLC grew its holdings in Red Rock Resorts by 28.1% during the 4th quarter. FMR LLC now owns 2,613,546 shares of the company’s stock worth $53,081,000 after acquiring an additional 573,066 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Red Rock Resorts by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,469,688 shares of the company’s stock worth $172,417,000 after acquiring an additional 552,550 shares during the last quarter. 63.90% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Different Options Trading Strategies

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.