Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $59.69 Average Price Target from Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $59.69.

Several analysts recently issued reports on RRR shares. Barclays cut their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company cut their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Truist Financial cut their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Finally, Macquarie cut their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently bought and sold shares of RRR. Quarry LP lifted its position in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE raised its holdings in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Red Rock Resorts during the 2nd quarter valued at $98,000. nVerses Capital LLC increased its holdings in Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after purchasing an additional 800 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Red Rock Resorts during the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $43.19 on Friday. Red Rock Resorts has a fifty-two week low of $42.46 and a fifty-two week high of $63.28. The business has a 50 day moving average price of $48.81 and a two-hundred day moving average price of $52.78. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market cap of $4.56 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. Red Rock Resorts’s payout ratio is 37.04%.

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.