JMP Securities Cuts Red Rock Resorts (NASDAQ:RRR) Price Target to $57.00

Red Rock Resorts (NASDAQ:RRR) had its target price trimmed by JMP Securities from $61.00 to $57.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities research analysts have also commented on RRR. Barclays lowered their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Truist Financial decreased their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Hold” and an average target price of $58.38.

Red Rock Resorts Trading Down 0.0 %

NASDAQ:RRR opened at $46.73 on Thursday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The company has a market cap of $4.94 billion, a PE ratio of 17.31, a PEG ratio of 4.75 and a beta of 2.01. The firm has a 50-day moving average of $48.01 and a 200-day moving average of $52.49.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. Red Rock Resorts’s payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP raised its stake in Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares during the period. US Bancorp DE raised its position 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 purchasing an additional 1,490 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at approximately $98,000. nVerses Capital LLC boosted its holdings in Red Rock Resorts by 28.6% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after buying an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC bought a new position in Red Rock Resorts in the 3rd quarter worth approximately $218,000. Institutional investors own 47.84% of the company’s stock.

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.