Red Rock Resorts, Inc. (NASDAQ:RRR) Receives $59.69 Average Target Price from Analysts

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

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial dropped their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th.

Institutional Investors Weigh In On Red Rock Resorts

Large investors have recently modified their holdings of the company. Quarry LP lifted its stake in Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE raised its holdings in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $98,000. nVerses Capital LLC boosted its holdings in shares of Red Rock Resorts by 28.6% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after buying an additional 800 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Red Rock Resorts in the 3rd quarter valued at $215,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $43.94 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a 50-day moving average price of $48.99 and a 200 day moving average price of $52.85. Red Rock Resorts has a 12-month low of $43.64 and a 12-month high of $63.28. The stock has a market cap of $4.64 billion, a P/E ratio of 16.27, a PEG ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s payout ratio is presently 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.