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

Red Rock Resorts (NASDAQ:RRR) had its price target upped by Barclays from $62.00 to $64.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also issued reports on RRR. Wells Fargo & Company lifted their price target on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Morgan Stanley upped their target price on Red Rock Resorts from $51.00 to $53.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Susquehanna increased their price target on Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $63.00 to $69.00 and gave the stock an overweight rating in a report on Monday, April 1st. Finally, Macquarie upgraded shares of Red Rock Resorts from a neutral rating to an outperform rating and raised their target price for the stock from $51.00 to $58.00 in a report 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. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $61.25.

Red Rock Resorts Stock Up 1.7 %

Red Rock Resorts stock opened at $58.36 on Friday. The company’s 50-day moving average price is $58.28 and its two-hundred day moving average price is $51.42. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.95 and a beta of 2.06. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. 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 (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.00 earnings per share. On average, analysts expect that Red Rock Resorts will post 1.93 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. Red Rock Resorts’s dividend 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 stock was 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 sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 54.20% of the company’s stock.

Institutional Trading of Red Rock Resorts

Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Red Rock Resorts in the 4th quarter valued at $212,000. Core Wealth Partners LLC bought a new stake in Red Rock Resorts during the fourth quarter valued at about $213,000. Valeo Financial Advisors LLC acquired a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $255,000. VELA Investment Management LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth about $256,000. Finally, Malaga Cove Capital LLC acquired a new position in shares of Red Rock Resorts during the 3rd quarter worth about $242,000. 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.