Red Rock Resorts (NASDAQ:RRR) Given New $49.00 Price Target at Truist Financial

Red Rock Resorts (NASDAQ:RRR - Free Report) had its price objective decreased by Truist Financial from $56.00 to $49.00 in a research note released on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently issued reports on RRR. JMP Securities restated a "market outperform" rating and set a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Macquarie decreased their price objective on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 17th. Finally, Barclays reduced their target price 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. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $59.00.

Red Rock Resorts Stock Up 2.7 %

Shares of RRR traded up $1.18 during trading hours on Tuesday, hitting $45.09. 762,620 shares of the company were exchanged, compared to its average volume of 620,652. 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 company has a market cap of $4.76 billion, a PE ratio of 16.70, a PEG ratio of 6.69 and a beta of 2.01. The firm's 50 day moving average is $48.67 and its 200-day moving average is $52.71. Red Rock Resorts has a 52 week low of $42.46 and a 52 week high of $63.28.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts's payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $21,987,000. Eminence Capital LP lifted its position in 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 buying an additional 374,128 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in 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 worth $18,170,000 after buying an additional 325,727 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Red Rock Resorts by 239.0% in the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company's stock valued at $10,072,000 after acquiring an additional 130,434 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of Red Rock Resorts by 1.0% in the third 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. 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.