Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $61.58 Average Price Target from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.58.

Several equities research analysts recently weighed in on RRR shares. Bank of America upgraded shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $55.00 in a research note on Monday, May 13th. Barclays reduced their target price on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company cut their price target on shares of Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, JMP Securities cut their price target on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta acquired 800,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $50.39 per share, for a total transaction of $40,312,000.00. Following the completion of the purchase, the insider now directly owns 47,447,301 shares of the company’s stock, valued at $2,390,869,497.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. 53.28% of the stock is owned by company insiders.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently added to or reduced their stakes in RRR. Covestor Ltd boosted its stake in shares of Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Headlands Technologies LLC bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at $78,000. Virtu Financial LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth $212,000. Core Wealth Partners LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth $213,000. Finally, SG Americas Securities LLC acquired a new position in Red Rock Resorts in the first quarter valued at about $236,000. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Trading Up 2.0 %

Red Rock Resorts stock opened at $52.80 on Wednesday. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.49 and a beta of 2.00. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company’s fifty day moving average price is $52.96 and its two-hundred day moving average price is $54.17.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.18. The company had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, analysts forecast that Red Rock Resorts will post 1.82 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. Red Rock Resorts’s payout ratio is 34.72%.

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.