Red Rock Resorts (NASDAQ:RRR) Lowered to Neutral Rating by Mizuho

Mizuho cut shares of Red Rock Resorts (NASDAQ:RRR) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has $44.00 target price on the stock, down from their previous target price of $57.00.

A number of other equities research analysts also recently issued reports on the company. Truist Financial lowered their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Macquarie lowered their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Barclays lowered their price objective 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and an average price target of $60.42.

Red Rock Resorts Trading Down 0.7 %

NASDAQ:RRR opened at $50.49 on Monday. The company has a market cap of $5.33 billion, a P/E ratio of 18.70, a P/E/G ratio of 6.30 and a beta of 2.04. The stock’s fifty day moving average price is $52.71 and its two-hundred day moving average price is $53.64. Red Rock Resorts has a 1 year low of $43.38 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Red Rock Resorts during the third quarter valued at about $345,000. Geode Capital Management LLC grew its stake in shares of Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after buying an additional 14,029 shares during the last quarter. Barclays PLC grew its stake in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after buying an additional 54,863 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Red Rock Resorts during the third quarter worth about $233,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after purchasing an additional 130,434 shares during the period. 47.84% of the stock is owned by institutional investors.

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.