Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $128.00

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its target price increased by Stifel Nicolaus from $123.00 to $128.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the casino operator's stock. Stifel Nicolaus' price target points to a potential upside of 40.34% from the stock's current price.

WYNN has been the subject of several other reports. Morgan Stanley raised their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Macquarie reiterated an "outperform" rating and issued a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Barclays lifted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Friday. Finally, Mizuho lifted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $120.58.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $2.39 during midday trading on Friday, reaching $91.21. The stock had a trading volume of 5,185,612 shares, compared to its average volume of 2,918,731. The stock has a 50-day moving average of $85.45 and a 200-day moving average of $87.06. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. As a group, analysts forecast that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts in the third quarter worth about $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts in the fourth quarter worth about $36,000. Spire Wealth Management lifted its stake in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the fourth quarter worth about $45,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.