Red Rock Resorts (NASDAQ:RRR) Reaches New 52-Week High on Analyst Upgrade

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $63.00 to $69.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Red Rock Resorts traded as high as $61.33 and last traded at $61.23, with a volume of 39071 shares traded. The stock had previously closed at $59.82.

Other research analysts have also recently issued research reports about the stock. Susquehanna lifted their price target on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, January 24th. Mizuho started coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They set a "buy" rating and a $69.00 price target on the stock. JMP Securities lifted their price target on shares of Red Rock Resorts from $55.00 to $61.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 8th. Finally, Morgan Stanley lifted their price target on shares of Red Rock Resorts from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.82.

Insider Activity at Red Rock Resorts

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

Institutional Trading of Red Rock Resorts

Hedge funds have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Red Rock Resorts in the 1st quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $34,000. KBC Group NV bought a new stake in shares of Red Rock Resorts in the 4th quarter worth about $56,000. Tower Research Capital LLC TRC increased its holdings in shares of Red Rock Resorts by 601.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company's stock worth $57,000 after buying an additional 1,100 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Red Rock Resorts during the 2nd quarter valued at about $92,000. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Price Performance

The company has a market capitalization of $6.45 billion, a P/E ratio of 20.78, a P/E/G ratio of 4.09 and a beta of 2.06. The firm's fifty day moving average is $56.86 and its 200 day moving average is $49.45. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.40 by $0.55. The company had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.9 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently declared 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 yield of 1.63%. Red Rock Resorts's payout ratio is 33.90%.

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.