Red Rock Resorts’ (RRR) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Red Rock Resorts (NASDAQ:RRR) in a report published on Friday morning, MarketBeat.com reports. They currently have a $51.00 target price on the stock, down from their previous target price of $64.00.

Other research analysts have also issued reports about the company. Wells Fargo & Company decreased their target price 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. Macquarie reduced their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Barclays reduced their price target on 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. Truist Financial reduced their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.69.

Red Rock Resorts Stock Up 0.4 %

RRR stock opened at $44.91 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of $4.74 billion, a PE ratio of 16.63, a PEG ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a 1-year low of $43.64 and a 1-year high of $63.28. The business’s 50 day simple moving average is $49.69 and its 200 day simple moving average is $53.07.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.25 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%. Red Rock Resorts’s payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of RRR. Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after buying an additional 106,509 shares during the period. Eminence Capital LP increased its stake in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after buying an additional 374,128 shares during the period. Geode Capital Management LLC boosted its position in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Red Rock Resorts by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock valued at $31,418,000 after purchasing an additional 4,810 shares in the last quarter. 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.