Red Rock Resorts, Inc. (NASDAQ:RRR) Given Average Rating of “Moderate Buy” by Brokerages

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $61.50.

RRR has been the topic of several recent analyst reports. Susquehanna raised their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. JMP Securities reaffirmed 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. Macquarie dropped 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. Finally, Stifel Nicolaus boosted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RRR. Long Pond Capital LP purchased a new position in shares of Red Rock Resorts in the 2nd quarter worth $21,987,000. Eminence Capital LP boosted its position in Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Red Rock Resorts by 4,050.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Red Rock Resorts during the 2nd quarter valued at about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Red Rock Resorts by 26.7% during 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 purchasing an additional 251,855 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $50.84 on Friday. 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 52-week low of $43.08 and a 52-week high of $63.28. The company has a fifty day moving average of $53.15 and a 200-day moving average of $53.75. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 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.