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

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.50.

A number of brokerages have recently issued reports on RRR. Morgan Stanley increased their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. 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. JPMorgan Chase & Co. lifted their target price on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Macquarie dropped their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th.

Red Rock Resorts Trading Up 1.3 %

NASDAQ:RRR opened at $50.84 on Friday. Red Rock Resorts has a one year low of $43.08 and a one year high of $63.28. The business has a fifty day moving average price of $53.15 and a 200-day moving average price of $53.75. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 6.38 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd boosted its position in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Quarry LP lifted its stake in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE boosted its position in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Red Rock Resorts in the second quarter valued at about $98,000. Finally, nVerses Capital LLC purchased a new position in Red Rock Resorts in the second quarter valued at about $154,000. 47.84% of the stock is currently owned by institutional investors.

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.