Red Rock Resorts (NASDAQ:RRR) Stock Price Expected to Rise, Barclays Analyst Says

Red Rock Resorts (NASDAQ:RRR) had its price target lifted by stock analysts at Barclays from $65.00 to $72.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 12.13% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group reissued a “buy” rating on shares of Red Rock Resorts in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 target price on shares of Red Rock Resorts in a report on Thursday, April 30th. Susquehanna lowered their target price on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, April 30th. The Goldman Sachs Group initiated coverage on Red Rock Resorts in a research report on Friday, June 26th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Morgan Stanley set a $59.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

Red Rock Resorts Trading Up 1.1%

NASDAQ:RRR opened at $64.21 on Thursday. The firm has a 50-day moving average price of $58.77 and a two-hundred day moving average price of $59.58. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts has a 52 week low of $50.52 and a 52 week high of $68.99. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly 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). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Red Rock Resorts will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Red Rock Resorts

Several hedge funds have recently made changes to their positions in the business. Bamco Inc. NY lifted its position in shares of Red Rock Resorts by 2.0% during the 4th quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock worth $775,607,000 after buying an additional 250,725 shares during the last quarter. State Street Corp increased its stake in Red Rock Resorts by 62.1% in the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after buying an additional 695,575 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after purchasing an additional 1,296,956 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Red Rock Resorts by 7.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock valued at $74,799,000 after buying an additional 82,849 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Red Rock Resorts by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company’s stock valued at $73,648,000 after acquiring an additional 4,759 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.