Red Rock Resorts (NASDAQ:RRR) Downgraded to Neutral Rating by Mizuho

Red Rock Resorts (NASDAQ:RRR) was downgraded by analysts at Mizuho from an “outperform” rating to a “neutral” rating in a report issued on Monday, Marketbeat Ratings reports. They presently have a $44.00 price target on the stock, down from their prior price target of $57.00. Mizuho’s target price would indicate a potential downside of 11.56% from the company’s current price.

RRR has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Barclays cut their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Macquarie dropped their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $60.42.

Red Rock Resorts Trading Down 1.5 %

Shares of Red Rock Resorts stock opened at $49.75 on Monday. The stock has a market cap of $5.25 billion, a P/E ratio of 18.43, a P/E/G ratio of 6.30 and a beta of 2.04. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $43.38 and a 12-month high of $63.28. The business’s 50 day moving average is $52.71 and its 200-day moving average is $53.64.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the business. Quarry LP grew its position in Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE grew its holdings in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth $98,000. nVerses Capital LLC bought a new position in shares of Red Rock Resorts in the second quarter worth $154,000. Finally, Ritholtz Wealth Management acquired a new position in Red Rock Resorts in the third quarter valued at about $215,000. 47.84% of the stock is owned by institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.