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

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

Several other equities analysts have also commented on RRR. Bank of America upped their target price on Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a research note on Monday, April 8th. JMP Securities upped their target price on Red Rock Resorts from $61.00 to $66.00 and gave the company a market outperform rating in a research note on Friday. Susquehanna upped their target price on Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a research note on Thursday, February 8th. Mizuho assumed coverage on Red Rock Resorts in a research note on Tuesday, March 26th. They issued a buy rating and a $69.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Red Rock Resorts from $63.00 to $69.00 and gave the company an overweight rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts currently has an average rating of Moderate Buy and a consensus target price of $61.25.

Red Rock Resorts Stock Down 0.8 %

Shares of RRR traded down $0.47 during mid-day trading on Friday, reaching $57.39. The company's stock had a trading volume of 402,352 shares, compared to its average volume of 409,434. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28. The stock has a market cap of $6.04 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 3.02 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The company's 50 day moving average is $58.30 and its 200 day moving average is $51.13.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. During the same quarter last year, the business posted $1.00 EPS. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Red Rock Resorts will post 1.93 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

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

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, 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 document filed with the SEC, which is available at this link. 54.20% of the stock is currently owned by company insiders.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its position in Red Rock Resorts by 24.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company's stock valued at $56,491,000 after acquiring an additional 188,095 shares during the period. Virtu Financial LLC acquired a new stake in Red Rock Resorts in the 4th quarter valued at approximately $212,000. Barclays PLC increased its position in Red Rock Resorts by 121.4% in the 4th quarter. Barclays PLC now owns 114,792 shares of the company's stock valued at $6,122,000 after acquiring an additional 62,948 shares during the period. Voya Investment Management LLC increased its position in Red Rock Resorts by 403.1% in the 4th quarter. Voya Investment Management LLC now owns 96,166 shares of the company's stock valued at $5,129,000 after acquiring an additional 77,052 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Red Rock Resorts by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 137,088 shares of the company's stock valued at $7,311,000 after acquiring an additional 1,471 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.