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

Red Rock Resorts (NASDAQ:RRR) had its target price hoisted by Barclays from $62.00 to $64.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 10.82% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Mizuho started coverage on shares of Red Rock Resorts in a report on Tuesday, March 26th. They set a “buy” rating and a $69.00 target price for the company. Macquarie raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $58.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price objective 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. Susquehanna lifted their price objective 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. Finally, Bank of America lifted their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.25.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded down $0.11 on Friday, hitting $57.75. 43,774 shares of the company were exchanged, compared to its average volume of 404,641. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The stock’s 50 day moving average price is $58.33 and its 200 day moving average price is $51.02. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The firm has a market capitalization of $6.07 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 3.02 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (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 firm had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter last year, the company posted $1.00 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Red Rock Resorts will post 1.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares in the company, valued at $14,077,473.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.20% of the stock is currently owned by company insiders.

Institutional Trading of Red Rock Resorts

Hedge funds have recently made changes to their positions in the company. Bamco Inc. NY boosted its position in shares of Red Rock Resorts by 10.8% during the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after purchasing an additional 962,841 shares during the period. FMR LLC boosted 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 worth $215,223,000 after purchasing an additional 1,663,839 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Red Rock Resorts by 1.9% during the 3rd 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 period. Eminence Capital LP lifted its holdings in Red Rock Resorts by 21.1% during the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Red Rock Resorts by 2.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,493,068 shares of the company’s stock worth $49,809,000 after buying an additional 28,665 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.