Analysts Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $59.69

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $59.69.

A number of analysts have commented on the stock. Truist Financial cut their price target on shares of 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. 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 research note on Thursday, October 17th. Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $44.79 on Friday. Red Rock Resorts has a one year low of $43.64 and a one 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. The business’s 50 day simple moving average is $49.32 and its 200 day simple moving average is $52.97. The stock has a market capitalization of $4.73 billion, a PE ratio of 16.59, a PEG ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRR. Quarry LP increased its position in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE raised its stake in Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd purchased a new stake in Red Rock Resorts during the second quarter valued at about $98,000. nVerses Capital LLC boosted its position in Red Rock Resorts by 28.6% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC purchased a new position in shares of Red Rock Resorts in the third quarter worth about $218,000. Hedge funds and other institutional investors 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.