Red Rock Resorts (NASDAQ:RRR) PT Raised to $64.00 at Barclays

Red Rock Resorts (NASDAQ:RRR) had its price target hoisted by stock analysts at Barclays from $62.00 to $64.00 in a report issued on Friday, April 19th, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 24.06% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Stifel Nicolaus increased their price objective on Red Rock Resorts from $47.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, December 21st. Macquarie raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and increased their price target for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Morgan Stanley boosted their price objective on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Susquehanna raised their target price on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.58.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock traded up $0.27 during trading hours on Friday, reaching $51.59. 27,358 shares of the company’s stock were exchanged, compared to its average volume of 441,035. The business has a fifty day moving average of $56.78 and a two-hundred day moving average of $53.13. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 18.49. The company has a market capitalization of $5.43 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.45 and a beta of 2.08. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. The company had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, research analysts predict that Red Rock Resorts will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $50.39, for a total value of $40,312,000.00. Following the completion of the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at $2,310,245,497.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank J. Fertitta III sold 800,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at approximately $2,310,245,497.39. The disclosure for this sale can be found here. Corporate insiders own 53.28% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the company. Natixis Advisors L.P. acquired a new stake in Red Rock Resorts during the fourth quarter worth about $6,595,000. Eminence Capital LP raised its position in shares of Red Rock Resorts by 6.0% during the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock worth $80,347,000 after purchasing an additional 111,651 shares during the period. Auxano Advisors LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $1,341,000. Vaughan Nelson Investment Management L.P. bought a new position in Red Rock Resorts during the 4th quarter worth $40,331,000. Finally, Swiss National Bank boosted its holdings in shares of Red Rock Resorts by 1.0% during the third quarter. Swiss National Bank now owns 108,700 shares of the company’s stock valued at $4,457,000 after acquiring an additional 1,100 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.