Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $59.69.

Several equities analysts recently commented on RRR shares. Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Truist Financial dropped their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday. Barclays decreased 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 note on Friday, November 8th. Finally, 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC grew its stake in Red Rock Resorts by 3.0% during the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the last quarter. Truist Financial Corp boosted its stake in Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares during the period. Arizona State Retirement System raised its position in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares during the last quarter. WCG Wealth Advisors LLC grew its position in Red Rock Resorts by 2.5% in the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after purchasing an additional 450 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Red Rock Resorts by 1.2% during the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock worth $3,487,000 after acquiring an additional 765 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR opened at $44.91 on Friday. The stock has a market cap of $4.74 billion, a P/E ratio of 16.63, a PEG ratio of 6.69 and a beta of 2.01. 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 has a 12-month low of $43.64 and a 12-month high of $63.28. The company has a 50-day moving average of $49.69 and a two-hundred day moving average of $53.07.

Red Rock Resorts Announces Dividend

The business also recently announced 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 2.23%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s payout ratio 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.