Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Red Rock Resorts, with 14 buy, three hold and one sell rating among 18 covering firms. The average 12-month price target is $71.24.
• Recent analyst actions were generally positive, including reiterated outperform and buy ratings, although Citizens JMP lowered its target to $67 and Morgan Stanley set a $61 target.
• RRR opened at $64.44, with a $6.77 billion market capitalization and a 52-week range of $50.52 to $68.99. Institutional investors own 47.84% of the company, with several major funds increasing their positions.

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.2353.

A number of analysts have recently weighed in on the stock. Citizens Jmp reduced their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a "market outperform" rating on the stock in a report on Thursday, April 30th. Citigroup reaffirmed an "outperform" rating on shares of Red Rock Resorts in a report on Thursday, July 16th. 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 $61.00 price target on Red Rock Resorts in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $72.00 price objective on shares of Red Rock Resorts in a research note on Thursday, April 30th.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $64.44 on Monday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 4.73 and a beta of 1.36. The firm's fifty day moving average is $62.34 and its 200 day moving average is $59.80. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. Red Rock Resorts has a 52-week low of $50.52 and a 52-week high of $68.99.

Hedge Funds Weigh In On Red Rock Resorts

Several large investors have recently modified their holdings of RRR. Bamco Inc. NY raised its holdings in Red Rock Resorts by 2.0% during the 4th quarter. Bamco Inc. NY now owns 12,519,892 shares of the company's stock valued at $775,607,000 after buying an additional 250,725 shares during the period. State Street Corp boosted its stake in Red Rock Resorts by 62.1% during the fourth quarter. State Street Corp now owns 1,814,812 shares of the company's stock worth $112,428,000 after buying an additional 695,575 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Red Rock Resorts by 2,248.2% during the third 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. increased its position in Red Rock Resorts by 7.4% during the fourth 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 last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Red Rock Resorts by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company's stock valued at $73,648,000 after acquiring an additional 4,759 shares during the period. Institutional investors own 47.84% of the company's stock.

About Red Rock Resorts

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.

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