Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $49.00 by Analysts at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price objective reduced by Truist Financial from $56.00 to $49.00 in a research note published on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

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

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $45.09 on Tuesday. The firm has a market capitalization of $4.76 billion, a P/E ratio of 16.70, a PEG ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The business has a fifty day moving average price of $48.67 and a 200-day moving average price of $52.71.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 dividend payout ratio (DPR) is currently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors have recently modified their holdings of RRR. Mayfair Advisory Group LLC boosted its stake in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after acquiring an additional 14,148 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Red Rock Resorts in the 3rd quarter worth approximately $345,000. Geode Capital Management LLC boosted its stake in shares of Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after purchasing an additional 54,863 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

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.