Mizuho Downgrades Red Rock Resorts (NASDAQ:RRR) to Neutral

Red Rock Resorts (NASDAQ:RRR) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $44.00 target price on the stock, down from their previous target price of $57.00. Mizuho’s target price would suggest a potential downside of 11.56% from the stock’s current price.

Several other equities analysts have also weighed in on RRR. Macquarie cut their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Barclays reduced their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Truist Financial dropped their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley raised their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price target on 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $60.42.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $49.75 on Monday. The company has a market cap of $5.25 billion, a PE ratio of 18.43, a PEG ratio of 6.30 and a beta of 2.04. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 1 year low of $43.38 and a 1 year high of $63.28. The company’s 50-day moving average is $52.71 and its two-hundred day moving average is $53.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of 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 stake 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 acquiring an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC bought a new stake in shares of Red Rock Resorts in the second quarter worth $154,000. Finally, Mayfair Advisory Group LLC acquired a new position in Red Rock Resorts during the third quarter worth $218,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

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.