Red Rock Resorts, Inc. (NASDAQ:RRR) Stock Has Average Target Price of $71.94

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $71.89.

A number of equities analysts have issued reports on RRR shares. JPMorgan Chase & Co. raised their price target on shares of Red Rock Resorts from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial lifted their price objective on shares of Red Rock Resorts from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Capital One Financial raised shares of Red Rock Resorts to a “buy” rating in a report on Wednesday, September 9th. UBS Group set a $75.00 price objective on shares of Red Rock Resorts in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company raised their target price on shares of Red Rock Resorts from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday.

Red Rock Resorts Trading Up 1.2%

Shares of Red Rock Resorts stock opened at $49.89 on Friday. The firm’s 50 day simple moving average is $54.76 and its two-hundred day simple moving average is $57.73. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 4.04 and a beta of 1.40. Red Rock Resorts has a 12-month low of $47.49 and a 12-month high of $68.99. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 12.33.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. The firm had revenue of $510.26 million for the quarter, compared to analyst estimates of $500.08 million. During the same period in the previous year, the company earned $0.95 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts predict that Red Rock Resorts will post 1.54 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Red Rock Resorts’s dividend payout ratio is 36.75%.

Insider Activity at Red Rock Resorts

In related news, President Scott Kreeger sold 31,159 shares of Red Rock Resorts stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the transaction, the president owned 203,881 shares in the company, valued at $12,595,768.18. The trade was a 13.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 54.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in Red Rock Resorts by 4,566.7% in the third quarter. Fortitude Family Office LLC now owns 560 shares of the company’s stock worth $28,000 after acquiring an additional 548 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Red Rock Resorts by 64.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,058 shares of the company’s stock valued at $52,000 after purchasing an additional 413 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Red Rock Resorts by 252.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock valued at $45,000 after purchasing an additional 645 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Red Rock Resorts in the 2nd quarter valued at approximately $500,000. Finally, Tidal Investments LLC acquired a new stake in shares of Red Rock Resorts in the 2nd quarter valued at $217,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company develops, owns and operates casino resorts and other gaming properties, primarily serving the Las Vegas locals market.

Its portfolio includes destination-style properties such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, and Durango Casino & Resort, along with neighborhood casinos including Palace Station, Boulder Station, Santa Fe Station and several Wildfire locations.