Red Rock Resorts (RRR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Red Rock Resorts (NASDAQ:RRR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $38.00 target price on the stock.

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 research analysts also recently issued research reports about the company. BidaskClub downgraded Red Rock Resorts from a sell rating to a strong sell rating in a research note on Friday, September 15th. JPMorgan Chase & Co. reissued a buy rating and set a $33.00 target price on shares of Red Rock Resorts in a research note on Tuesday, November 28th. SunTrust Banks began coverage on Red Rock Resorts in a research note on Thursday, September 14th. They set a buy rating and a $26.00 target price for the company. ValuEngine raised Red Rock Resorts from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Bank of America boosted their target price on Red Rock Resorts from $26.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $30.50.

Shares of Red Rock Resorts (NASDAQ:RRR) traded up $1.09 during midday trading on Thursday, reaching $34.00. The company’s stock had a trading volume of 425,619 shares, compared to its average volume of 587,991. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a market capitalization of $3,948.83, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 5.11 and a beta of 1.59. Red Rock Resorts has a 12-month low of $20.87 and a 12-month high of $34.89.

Several institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of Red Rock Resorts by 139.4% in the third quarter. California Public Employees Retirement System now owns 21,550 shares of the company’s stock valued at $499,000 after buying an additional 12,550 shares during the period. Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 28.0% in the third quarter. Bamco Inc. NY now owns 7,095,981 shares of the company’s stock valued at $164,343,000 after buying an additional 1,550,892 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Red Rock Resorts by 302.0% in the third quarter. Cubist Systematic Strategies LLC now owns 5,801 shares of the company’s stock valued at $134,000 after buying an additional 4,358 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Red Rock Resorts by 46.8% in the third quarter. Point72 Asset Management L.P. now owns 4,285,300 shares of the company’s stock valued at $99,248,000 after buying an additional 1,366,300 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Red Rock Resorts in the third quarter valued at approximately $306,000. 64.35% of the stock is owned by institutional investors.

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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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