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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $61.50.

A number of analysts have weighed in on the stock. Barclays reduced their price objective on shares of 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. Mizuho reissued an “outperform” rating and issued a $57.00 price target (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Stifel Nicolaus raised their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th.

Institutional Trading of Red Rock Resorts

Hedge funds have recently made changes to their positions in the company. Long Pond Capital LP purchased a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $21,987,000. Eminence Capital LP grew its stake in shares of Red Rock Resorts by 23.7% during the 2nd 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 period. Sequoia Financial Advisors LLC boosted its holdings in Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after buying an additional 325,727 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Red Rock Resorts during the second quarter worth about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $50.10 on Friday. The stock’s 50-day simple moving average is $53.06 and its 200-day simple moving average is $53.74. The firm has a market capitalization of $5.29 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 6.33 and a beta of 2.04. Red Rock Resorts has a fifty-two week low of $43.08 and a fifty-two week high of $63.28. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 2.00%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 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.