Red Rock Resorts (NASDAQ:RRR) Price Target Increased to $64.00 by Analysts at Barclays

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

RRR has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company a buy rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an overweight rating in a report on Monday, April 1st. Stifel Nicolaus lifted their target price on shares of Red Rock Resorts from $47.00 to $54.00 and gave the company a hold rating in a report on Thursday, December 21st. Wells Fargo & Company lifted their target price on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an overweight rating in a report on Thursday, February 8th. Finally, Bank of America lifted their target price on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $61.25.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $57.39 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The firm has a 50-day moving average of $58.30 and a 200-day moving average of $51.13. The firm has a market cap of $6.04 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.98 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $462.71 million during the quarter, compared to analyst estimates of $440.75 million. During the same period last year, the business posted $1.00 earnings per share. Red Rock Resorts’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Red Rock Resorts will post 1.93 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts 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 sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 54.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds have recently modified their holdings of RRR. FMR LLC grew its position in shares of Red Rock Resorts by 46.4% during the 3rd 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 during the period. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Red Rock Resorts in the 4th quarter worth $40,331,000. Capital Research Global Investors bought a new position in Red Rock Resorts in the 1st quarter worth $23,794,000. Finally, Capital World Investors bought a new position in Red Rock Resorts in the 4th quarter worth $24,897,000. Institutional investors own 47.84% of the company’s stock.

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.