Red Rock Resorts (NASDAQ:RRR) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.09 and traded as high as $56.82. Red Rock Resorts shares last traded at $54.93, with a volume of 926,540 shares changing hands.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of research analyst reports. Barclays dropped their price target on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reiterated an "outperform" rating on shares of Red Rock Resorts in a research note on Friday. JMP Securities lifted their price objective on shares of Red Rock Resorts from $55.00 to $57.00 and gave the stock a "market outperform" rating in a research note on Friday. Truist Financial upgraded shares of Red Rock Resorts from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $45.00 to $67.00 in a research note on Wednesday. Finally, Morgan Stanley set a $49.00 price objective on shares of Red Rock Resorts and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.73.

Red Rock Resorts Stock Down 1.5%

The company has a market capitalization of $5.78 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 5.85 and a beta of 1.62. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The firm's fifty day moving average is $50.54 and its 200-day moving average is $47.21.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. The company had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared an annual dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, June 16th. Red Rock Resorts's dividend payout ratio (DPR) is currently 38.76%.

Institutional Trading of Red Rock Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after purchasing an additional 766 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of Red Rock Resorts during the first quarter worth about $43,000. US Bancorp DE grew its holdings in shares of Red Rock Resorts by 1,664.4% during the first quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after purchasing an additional 982 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Red Rock Resorts in the first quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after acquiring an additional 664 shares during the period. 47.84% of the stock is currently owned by institutional investors.

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.