BidaskClub Upgrades Red Rock Resorts (NASDAQ:RRR) to “Sell”

Red Rock Resorts (NASDAQ:RRR) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research firms have also weighed in on RRR. Deutsche Bank lowered shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 price target on the stock. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Telsey Advisory Group reaffirmed a “market perform” rating and set a $5.00 price objective (down from $7.50) on shares of Tile Shop in a research report on Wednesday, May 1st. ValuEngine raised shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research lowered shares of Great Portland Estates from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, TheStreet upgraded shares of VEON from a “d+” rating to a “c-” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.29.

Shares of RRR opened at $22.55 on Wednesday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 17.21 and a beta of 2.11. Red Rock Resorts has a 1-year low of $18.78 and a 1-year high of $36.80. The company’s fifty day moving average is $21.75.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.16). Red Rock Resorts had a return on equity of 10.08% and a net margin of 6.89%. The firm had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $445.50 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts expect that Red Rock Resorts will post 0.95 earnings per share for the current fiscal year.

In other news, insider Joseph J. Hasson sold 12,891 shares of Red Rock Resorts stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total value of $299,586.84. Following the transaction, the insider now owns 12,891 shares of the company’s stock, valued at $299,586.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. First Quadrant L P CA acquired a new position in Red Rock Resorts during the 1st quarter worth about $42,000. Legal & General Group Plc increased its stake in Red Rock Resorts by 20.7% during the 4th quarter. Legal & General Group Plc now owns 30,137 shares of the company’s stock worth $612,000 after purchasing an additional 5,176 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Red Rock Resorts by 39.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 18,626 shares of the company’s stock worth $378,000 after purchasing an additional 5,244 shares in the last quarter. NumerixS Investment Technologies Inc boosted its position in Red Rock Resorts by 151.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $252,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Creative Planning acquired a new position in Red Rock Resorts during the 1st quarter worth approximately $222,000. 61.82% of the stock is currently owned by hedge funds and other institutional investors.

About Red Rock Resorts

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.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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