Investment analysts at SunTrust Banks, Inc. began coverage on shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in a research note issued on Thursday, September 14th, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. SunTrust Banks, Inc.’s target price points to a potential upside of 12.55% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 5th. ValuEngine raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Stifel Nicolaus reissued a “buy” rating and set a $27.00 target price on shares of Red Rock Resorts in a report on Friday, July 14th. Finally, Bank of America Corporation restated a “buy” rating and issued a $26.00 price target (up previously from $24.50) on shares of Red Rock Resorts in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.23.
Red Rock Resorts (NASDAQ:RRR) opened at 23.10 on Thursday. The company’s 50 day moving average price is $23.03 and its 200 day moving average price is $23.03. The firm has a market cap of $1.57 billion, a PE ratio of 37.87 and a beta of 0.70. Red Rock Resorts has a 52-week low of $21.07 and a 52-week high of $24.67.
A number of large investors have recently added to or reduced their stakes in RRR. Fifth Third Bancorp raised its stake in Red Rock Resorts by 100.9% in the 1st quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock worth $111,000 after purchasing an additional 2,522 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Red Rock Resorts by 154.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,966 shares of the company’s stock valued at $140,000 after purchasing an additional 3,623 shares during the period. Advisor Group Inc. grew its position in shares of Red Rock Resorts by 7,476.6% during the 2nd quarter. Advisor Group Inc. now owns 8,107 shares of the company’s stock worth $191,000 after purchasing an additional 8,000 shares in the last quarter. UBS Group AG grew its position in shares of Red Rock Resorts by 340.6% during the 1st quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after purchasing an additional 6,724 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Red Rock Resorts by 123.3% during the second quarter. BNP Paribas Arbitrage SA now owns 8,521 shares of the company’s stock worth $201,000 after purchasing an additional 4,705 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.
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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