Red Rock Resorts, Inc. (NASDAQ:RRR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $66.50.

RRR has been the subject of several research reports. Mizuho set a $68.00 target price on Red Rock Resorts in a report on Monday, February 2nd. Stifel Nicolaus set a $68.00 price target on Red Rock Resorts and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Rock Resorts in a research note on Thursday, January 22nd. UBS Group set a $73.00 target price on shares of Red Rock Resorts in a report on Wednesday, December 24th. Finally, Macquarie Infrastructure boosted their price target on shares of Red Rock Resorts from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th.

Institutional Trading of Red Rock Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Red Rock Resorts by 230.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock valued at $29,000 after purchasing an additional 385 shares in the last quarter. Strs Ohio purchased a new position in Red Rock Resorts in the third quarter valued at about $37,000. Ameritas Advisory Services LLC bought a new position in Red Rock Resorts in the second quarter worth about $42,000. Finally, GAMMA Investing LLC lifted its position in shares of Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $65.45 on Monday. The company has a debt-to-equity ratio of 10.11, a quick ratio of 0.70 and a current ratio of 0.75. The company has a market capitalization of $6.93 billion, a PE ratio of 20.84, a P/E/G ratio of 2.79 and a beta of 1.49. The company has a 50 day moving average price of $61.63 and a 200-day moving average price of $59.84. Red Rock Resorts has a fifty-two week low of $35.09 and a fifty-two week high of $65.62.

Red Rock Resorts declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 28th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.