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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average rating of “Hold” by the thirteen analysts that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $59.69.

RRR has been the subject of several research reports. Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company reduced their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Macquarie lowered their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $43.94 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of 16.27, a P/E/G ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a twelve month low of $43.64 and a twelve month high of $63.28. The stock has a 50 day moving average of $48.99 and a two-hundred day moving average of $52.85. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors have recently modified their holdings of RRR. Bamco Inc. NY grew its stake in Red Rock Resorts by 1.0% in the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after acquiring an additional 106,509 shares during the last quarter. Eminence Capital LP lifted its holdings in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Red Rock Resorts by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after purchasing an additional 38,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Red Rock Resorts by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock valued at $31,418,000 after buying an additional 4,810 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.