Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $75.00

Red Rock Resorts (NASDAQ:RRR) had its target price upped by Truist Financial from $68.00 to $75.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on RRR. Weiss Ratings raised shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Morgan Stanley set a $59.00 price target on Red Rock Resorts in a report on Wednesday, May 6th. Citizens Jmp reduced their price target on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Susquehanna decreased their price objective on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, April 30th. Finally, UBS Group set a $75.00 price objective on Red Rock Resorts in a report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.24.

Red Rock Resorts Stock Performance

Shares of RRR opened at $63.89 on Monday. Red Rock Resorts has a 1 year low of $50.52 and a 1 year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The stock’s fifty day moving average price is $60.64 and its two-hundred day moving average price is $59.69. The firm has a market cap of $6.71 billion, a PE ratio of 20.54, a PEG ratio of 4.66 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The firm had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts forecast that Red Rock Resorts will post 1.53 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.26 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.04 annualized dividend and a yield of 1.6%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RRR. Bamco Inc. NY raised its position in shares of Red Rock Resorts by 2.0% in the fourth quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock worth $775,607,000 after buying an additional 250,725 shares in the last quarter. State Street Corp lifted its stake in shares of Red Rock Resorts by 62.1% in the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after acquiring an additional 695,575 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Red Rock Resorts by 7.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock valued at $74,799,000 after acquiring an additional 82,849 shares during the period. Finally, Geode Capital Management LLC grew its position in Red Rock Resorts by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company’s stock worth $73,648,000 after acquiring an additional 4,759 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.