Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) Target Price at $60.42

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.42.

RRR has been the subject of several research analyst reports. JMP Securities restated a "market outperform" rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 4th. Truist Financial lowered their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a report on Thursday, October 17th. Finally, Barclays cut their price target on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR traded up $0.41 during midday trading on Wednesday, reaching $49.77. 477,066 shares of the company traded hands, compared to its average volume of 494,782. Red Rock Resorts has a 12 month low of $46.19 and a 12 month high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock's 50-day simple moving average is $51.72 and its 200-day simple moving average is $53.57. The firm has a market cap of $5.26 billion, a PE ratio of 18.43, a PEG ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, December 16th. Red Rock Resorts's dividend payout ratio (DPR) is presently 37.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Long Pond Capital LP acquired a new stake in Red Rock Resorts in the 2nd quarter worth about $21,987,000. Eminence Capital LP boosted its stake 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 buying an additional 374,128 shares during the period. Sequoia Financial Advisors LLC grew its position 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. bought a new position in Red Rock Resorts during the 2nd quarter worth $14,384,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Red Rock Resorts by 26.7% in 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 acquiring 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 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.