Analysts Set Red Rock Resorts, Inc. (NASDAQ:RRR) Price Target at $61.50

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $61.50.

Several equities analysts have weighed in on RRR shares. Truist Financial cut their price target 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. Mizuho restated an “outperform” rating and issued a $57.00 price target (down previously from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Barclays decreased their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Macquarie dropped their price objective on shares of 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. Finally, Morgan Stanley upped their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th.

Red Rock Resorts Trading Up 0.3 %

Shares of Red Rock Resorts stock opened at $49.69 on Friday. Red Rock Resorts has a twelve month low of $43.38 and a twelve month high of $63.28. 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 business has a 50-day moving average price of $52.90 and a 200-day moving average price of $53.67. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 6.33 and a beta of 2.04.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Trading of Red Rock Resorts

A number of large investors have recently made changes to their positions in RRR. Covestor Ltd increased its position in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. Quarry LP grew 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 buying an additional 930 shares in the last quarter. US Bancorp DE increased its stake in shares of Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new position in Red Rock Resorts during the 2nd quarter worth about $98,000. Finally, nVerses Capital LLC bought a new stake in shares of Red Rock Resorts in the 2nd quarter valued at about $154,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

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.