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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $60.42.

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Macquarie decreased their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $44.00 in a report on Monday, November 25th. Morgan Stanley boosted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Truist Financial lowered 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.

Institutional Trading of Red Rock Resorts

Institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its position in Red Rock Resorts by 1.0% during the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after purchasing an additional 106,509 shares in the last quarter. Eminence Capital LP boosted its position in shares of Red Rock Resorts by 23.7% in the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after buying an additional 374,128 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after acquiring an additional 251,855 shares during the last quarter. Geode Capital Management LLC increased its holdings in Red Rock Resorts by 1.2% during 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. Finally, Westfield Capital Management Co. LP raised its position in Red Rock Resorts by 3.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after acquiring an additional 38,443 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

RRR stock opened at $49.49 on Wednesday. The business’s 50-day moving average is $51.51 and its two-hundred day moving average is $53.61. 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 firm has a market capitalization of $5.23 billion, a P/E ratio of 18.33, a P/E/G ratio of 6.69 and a beta of 2.00. Red Rock Resorts has a 1 year low of $47.18 and a 1 year high of $63.28.

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 2.02%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s payout ratio is 37.04%.

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.