Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $72.00 at Barclays

Red Rock Resorts (NASDAQ:RRR) had its target price increased by Barclays from $65.00 to $72.00 in a report released on Thursday morning, Marketbeat reports. Barclays currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. UBS Group set a $75.00 price target on shares of Red Rock Resorts in a research report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Truist Financial lowered their target price on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Citigroup cut their target price on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

Red Rock Resorts Stock Performance

RRR stock opened at $63.49 on Thursday. The business’s fifty day moving average is $58.61 and its 200-day moving average is $59.55. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The company has a market cap of $6.67 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 4.80 and a beta of 1.35. Red Rock Resorts has a twelve month low of $50.52 and a twelve month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The company had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Equities research analysts forecast that Red Rock Resorts will post 1.53 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.44%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. AQR Capital Management LLC bought a new stake in shares of Red Rock Resorts in the first quarter valued at about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Red Rock Resorts by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock worth $1,270,000 after acquiring an additional 1,282 shares during the last quarter. Millennium Management LLC grew its stake in shares of Red Rock Resorts by 56.2% during the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after acquiring an additional 154,839 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Red Rock Resorts by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after acquiring an additional 4,699 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Red Rock Resorts by 9.1% during the 2nd quarter. American Century Companies Inc. now owns 25,884 shares of the company’s stock worth $1,347,000 after acquiring an additional 2,166 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.