Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $60.42 Consensus Price Target from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $60.42.

A number of brokerages recently issued reports on RRR. Barclays reduced 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. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Wells Fargo & Company decreased their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Finally, Truist Financial lowered their target price 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Virtu Financial LLC purchased a new position in Red Rock Resorts in the 3rd quarter valued at $345,000. Geode Capital Management LLC grew its position in Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after acquiring an additional 14,029 shares in the last quarter. Barclays PLC lifted its holdings in Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after buying an additional 54,863 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Red Rock Resorts in the third quarter valued at $233,000. Finally, Wellington Management Group LLP grew its position 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 buying an additional 130,434 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $49.49 on Wednesday. Red Rock Resorts has a 52 week low of $47.18 and a 52 week 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 company’s fifty day moving average is $51.51 and its 200 day moving average is $53.55. The stock has a market cap of $5.23 billion, a PE ratio of 18.33, a PEG ratio of 6.72 and a beta of 2.00.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s payout ratio is currently 37.04%.

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.