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

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

A number of other research firms have also recently issued reports on RRR. JMP Securities raised their price target on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a market outperform rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Mizuho assumed 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. Susquehanna raised their target price on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a positive rating in a report on Thursday, February 8th. Finally, Macquarie raised 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $61.25.

Red Rock Resorts Trading Down 0.8 %

NASDAQ:RRR opened at $57.39 on Friday. Red Rock Resorts has a 52 week low of $37.82 and a 52 week 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 company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.98 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. Red Rock Resorts’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

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

Insider Activity

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 54.20% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently modified their holdings of RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Red Rock Resorts in the first quarter worth about $30,000. Lazard Asset Management LLC purchased a new position in Red Rock Resorts during the fourth quarter worth about $34,000. KBC Group NV purchased a new position in Red Rock Resorts during the fourth quarter worth about $56,000. Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 601.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after purchasing an additional 1,100 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Red Rock Resorts during the second quarter worth about $92,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

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.