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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given a consensus recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $71.94.

Several research firms recently issued reports on RRR. Wells Fargo & Company upped their target price on Red Rock Resorts from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Citigroup restated a “buy” rating on shares of Red Rock Resorts in a research note on Wednesday, August 5th. Capital One Financial raised shares of Red Rock Resorts to a “buy” rating in a report on Wednesday, September 9th. Bank of America boosted their target price on Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Zacks Research raised shares of Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th.

Insider Activity

In other news, President Scott Kreeger sold 31,159 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the transaction, the president directly owned 203,881 shares of the company’s stock, valued at approximately $12,595,768.18. This trade represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in Red Rock Resorts during the second quarter valued at approximately $500,000. Tidal Investments LLC acquired a new position in shares of Red Rock Resorts during the second quarter worth $217,000. Squarepoint Ops LLC raised its position in shares of Red Rock Resorts by 39.0% during the second quarter. Squarepoint Ops LLC now owns 10,999 shares of the company’s stock worth $716,000 after acquiring an additional 3,088 shares during the last quarter. Nykredit A S bought a new position in Red Rock Resorts during the 2nd quarter worth approximately $45,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Red Rock Resorts during the second quarter worth $3,220,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of RRR opened at $50.76 on Tuesday. The stock has a market capitalization of $5.33 billion, a P/E ratio of 17.94, a P/E/G ratio of 4.16 and a beta of 1.31. Red Rock Resorts has a twelve month low of $47.78 and a twelve month high of $68.99. The company has a 50 day moving average of $59.17 and a 200-day moving average of $58.53. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) 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 company had revenue of $510.26 million for the quarter, compared to the consensus estimate of $500.08 million. During the same period last year, the company earned $0.95 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Red Rock Resorts will post 1.54 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio is 36.75%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.