Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) PT at $63.33

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $63.50.

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $63.00 to $64.00 in a report on Wednesday, July 24th. Macquarie boosted their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays upped their price target on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JMP Securities lowered their price objective on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus upped their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Insider Buying and Selling at Red Rock Resorts

In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the purchase, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at $2,366,379,400.77. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank J. Fertitta III acquired 67,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $49.77 per share, for a total transaction of $3,334,590.00. Following the completion of the transaction, the chief executive officer now directly owns 46,048,301 shares in the company, valued at $2,291,823,940.77. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 200,000 shares of company stock valued at $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its stake in shares of Red Rock Resorts by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 21,206 shares of the company’s stock worth $1,131,000 after purchasing an additional 2,226 shares during the last quarter. Truist Financial Corp boosted its position in Red Rock Resorts by 2.4% during the fourth quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock worth $1,431,000 after acquiring an additional 627 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Red Rock Resorts by 21.3% in the 4th quarter. Russell Investments Group Ltd. now owns 21,686 shares of the company’s stock worth $1,157,000 after acquiring an additional 3,810 shares during the period. Victory Capital Management Inc. raised its holdings in Red Rock Resorts by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 248,881 shares of the company’s stock valued at $13,273,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new position in shares of Red Rock Resorts during the 4th quarter worth $6,595,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

RRR stock opened at $57.60 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The company has a market capitalization of $6.08 billion, a P/E ratio of 20.00, a PEG ratio of 5.70 and a beta of 2.04. The business has a 50 day simple moving average of $56.21 and a 200-day simple moving average of $55.52. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. Red Rock Resorts’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Red Rock Resorts will post 1.66 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 1.74%. Red Rock Resorts’s payout ratio is currently 34.72%.

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.