Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $72.00 at Barclays

Red Rock Resorts (NASDAQ:RRR) had its price target hoisted by stock analysts at Barclays from $65.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 14.36% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a research report on Wednesday, May 6th. Citizens Jmp reduced their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Benchmark decreased their price target on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Susquehanna cut their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.12.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $62.96 on Thursday. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 5.01 and a beta of 1.35. Red Rock Resorts has a 52-week low of $50.52 and a 52-week high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The company’s 50 day moving average is $58.45 and its 200 day moving average is $59.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 worth $82,715,000 after purchasing an additional 1,296,956 shares during the period. Invesco Ltd. lifted its position in Red Rock Resorts by 345.6% during the fourth quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock valued at $65,301,000 after purchasing an additional 817,524 shares during the period. Wellington Management Group LLP purchased a new stake in Red Rock Resorts in the fourth quarter valued at $45,724,000. State Street Corp boosted its holdings in Red Rock Resorts by 62.1% in the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after purchasing an additional 695,575 shares during the last quarter. Finally, Millennium Management LLC grew its position in Red Rock Resorts by 656.8% during the 4th quarter. Millennium Management LLC now owns 373,038 shares of the company’s stock worth $23,110,000 after purchasing an additional 323,749 shares during the period. 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.