Red Rock Resorts (NASDAQ:RRR) Given New $63.00 Price Target at Barclays

Red Rock Resorts (NASDAQ:RRR) had its price target reduced by research analysts at Barclays from $64.00 to $63.00 in a research note issued to investors on Wednesday, May 8th, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 22.47% from the company’s current price.

Several other research firms have also recently weighed in on RRR. Bank of America boosted their price target on Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Truist Financial raised their price target on shares of Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Stifel Nicolaus decreased their target price on Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Susquehanna increased their target price 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.58.

Red Rock Resorts Stock Up 0.2 %

NASDAQ RRR traded up $0.12 during trading hours on Wednesday, reaching $51.44. 20,037 shares of the company’s stock were exchanged, compared to its average volume of 440,890. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company’s 50-day moving average is $56.78 and its two-hundred day moving average is $53.13. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.45 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The company had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Red Rock Resorts will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at $2,310,245,497.39. The disclosure for this sale can be found here. 53.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

Large investors have recently modified their holdings of the stock. Bamco Inc. NY increased its holdings in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after buying an additional 50,246 shares in the last quarter. FMR LLC increased its stake in Red Rock Resorts by 46.4% in the 3rd quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after acquiring an additional 1,663,839 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after buying an additional 209,593 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in 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 valued at $197,921,000 after buying an additional 91,798 shares during the period. Finally, Eminence Capital LP increased its position in Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after acquiring an additional 413,871 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

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.