Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $61.50

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $61.50.

Several research firms have recently issued reports on RRR. Susquehanna increased their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Stifel Nicolaus upped their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Truist Financial dropped 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 note on Wednesday, October 23rd. Finally, Mizuho restated an “outperform” rating and set a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RRR. Covestor Ltd boosted its stake in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Quarry LP raised its holdings in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares in the last quarter. US Bancorp DE lifted its stake in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after acquiring an additional 1,490 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Red Rock Resorts during the 2nd quarter worth approximately $98,000. Finally, nVerses Capital LLC purchased a new stake in shares of Red Rock Resorts in the 2nd quarter valued at approximately $154,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $50.10 on Friday. The firm’s fifty day moving average is $53.06 and its two-hundred day moving average is $53.74. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 6.33 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.89 and a current ratio of 1.02. Red Rock Resorts has a one year low of $43.08 and a one year high of $63.28.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s payout ratio is 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.