Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $60.42

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $60.42.

Several equities analysts have commented on RRR shares. Wells Fargo & Company cut their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Morgan Stanley increased their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $44.00 in a research report on Monday, November 25th.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $48.06 on Wednesday. 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 firm’s 50-day moving average is $51.30 and its 200-day moving average is $53.58. Red Rock Resorts has a 52-week low of $47.18 and a 52-week high of $63.28. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 6.69 and a beta of 2.00.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Trading of Red Rock Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in RRR. Quarry LP increased its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. US Bancorp DE increased its stake in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Red Rock Resorts during the second quarter worth $98,000. nVerses Capital LLC acquired a new position in shares of Red Rock Resorts during the second quarter valued at $154,000. Finally, Mayfair Advisory Group LLC bought a new position in Red Rock Resorts in the third quarter valued at about $218,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.