Barclays Increases Red Rock Resorts (NASDAQ:RRR) Price Target to $64.00

Red Rock Resorts (NASDAQ:RRR) had its target price raised by Barclays from $62.00 to $64.00 in a report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also weighed in on RRR. Mizuho began coverage on shares of Red Rock Resorts in a research report on Tuesday, March 26th. They issued a buy rating and a $69.00 price objective on the stock. JMP Securities increased their price target on Red Rock Resorts from $61.00 to $66.00 and gave the stock a market outperform rating in a report on Friday. Bank of America boosted their price objective on Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a report on Monday, April 8th. Morgan Stanley increased their target price on Red Rock Resorts from $51.00 to $53.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, Macquarie raised shares of Red Rock Resorts from a neutral rating to an outperform rating and boosted their target price for the company from $51.00 to $58.00 in a research note on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $61.25.

Red Rock Resorts Trading Up 1.7 %

Shares of NASDAQ RRR opened at $58.36 on Friday. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50 day moving average is $58.28 and its two-hundred day moving average is $51.42. The stock has a market capitalization of $6.14 billion, a P/E ratio of 19.78, a PEG ratio of 2.95 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.55. The firm had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, research analysts expect that Red Rock Resorts will post 1.93 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, March 14th. Red Rock Resorts’s payout ratio is 33.90%.

Insider Buying and Selling at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 54.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY boosted its holdings in shares of Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock valued at $404,135,000 after buying an additional 962,841 shares in the last quarter. FMR LLC boosted its stake in Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock valued at $215,223,000 after acquiring an additional 1,663,839 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Red Rock Resorts by 1.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after purchasing an additional 91,798 shares during the last quarter. Eminence Capital LP increased its position in shares of Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after purchasing an additional 413,871 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Red Rock Resorts by 2.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock valued at $73,951,000 after purchasing an additional 32,427 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

About Red Rock Resorts

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.