While Red Rock Resorts Inc has overperformed by 1.51%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RRR rose by 10.16%, with highs and lows ranging from $63.28 to $37.17, whereas the simple moving average jumped by 3.99% in the last 200 days.
On March 26, 2024, Mizuho started tracking Red Rock Resorts Inc (NASDAQ: RRR) recommending Buy. A report published by Barclays on January 18, 2024, Initiated its previous ‘Overweight’ rating for RRR. Morgan Stanley January 09, 2024d the rating to Equal-Weight on January 09, 2024, and set its price target from $49 to $48. Susquehanna initiated its ‘Positive’ rating for RRR, as published in its report on September 11, 2023. Truist’s report from January 11, 2023 suggests a price prediction of $45 for RRR shares, giving the stock a ‘Hold’ rating. Morgan Stanley also rated the stock as ‘Overweight’.
Analysis of Red Rock Resorts Inc (RRR)
The current dividend for RRR investors is set at $0.99 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 12.74%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Red Rock Resorts Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 165.55% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.76, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and RRR is recording an average volume of 442.13K. On a monthly basis, the volatility of the stock is set at 3.29%, whereas on a weekly basis, it is put at 3.54%, with a loss of -4.75% over the past seven days. Furthermore, long-term investors anticipate a median target price of $63.69, showing growth from the present price of $50.98, which can serve as yet another indication of whether RRR is worth investing in or should be passed over.
How Do You Analyze Red Rock Resorts Inc Shares?
Red Rock Resorts Inc (RRR) is based in the USA and is one of the most prominent companies operating in the Resorts & Casinos market. When comparing Red Rock Resorts Inc shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 20.60, there is a growth in quarterly earnings of -8.81%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 16.09%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 84.91% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
RRR shares are owned by institutional investors to the tune of 84.91% at present.
