Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Recommendation of “Moderate Buy” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $60.42.

A number of analysts have weighed in on the company. Barclays lowered their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” 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 research report on Monday, November 25th. Macquarie reduced their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial lowered 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 report on Wednesday, October 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th.

Institutional Investors Weigh In On Red Rock Resorts

Several hedge funds have recently modified their holdings of RRR. Sequoia Financial Advisors LLC increased its position in shares of Red Rock Resorts by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after purchasing an additional 292 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Red Rock Resorts during the second quarter worth $2,358,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Red Rock Resorts by 26.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after buying an additional 251,855 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Red Rock Resorts by 57.8% in the second quarter. Institute for Wealth Management LLC. now owns 11,804 shares of the company’s stock worth $648,000 after buying an additional 4,322 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Red Rock Resorts by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock worth $22,200,000 after acquiring an additional 24,992 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $49.36 on Wednesday. Red Rock Resorts has a twelve month low of $46.19 and a twelve month high of $63.28. 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 stock has a fifty day simple moving average of $51.82 and a two-hundred day simple moving average of $53.60. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) 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.