Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) Price Target at $59.69

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average recommendation of “Hold” by the thirteen analysts that are covering the stock, Marketbeat Ratings 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 analysts that have issued ratings on the stock in the last year is $59.69.

Several research analysts have recently issued reports on the company. Macquarie reduced their price target 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. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Truist Financial reduced their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors have recently bought and sold shares of the business. Quarry LP boosted its holdings in shares of 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 acquiring an additional 930 shares during the period. US Bancorp DE boosted its stake in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC boosted its stake in shares of Red Rock Resorts by 28.6% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after buying an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC bought a new stake in Red Rock Resorts during the third quarter worth $218,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 1.7 %

NASDAQ:RRR opened at $43.19 on Friday. Red Rock Resorts has a 12-month low of $42.46 and a 12-month 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 firm has a market capitalization of $4.56 billion, a P/E ratio of 16.00, a P/E/G ratio of 6.69 and a beta of 2.01. The stock’s fifty day simple moving average is $48.81 and its 200-day simple moving average is $52.78.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s dividend 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.