Wynn Resorts (NASDAQ:WYNN) Raised to “Buy” at StockNews.com

Wynn Resorts (NASDAQ:WYNN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays boosted their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $118.00 in a research note on Tuesday. Finally, Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Buy” and an average target price of $120.58.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $2.39 during trading on Tuesday, hitting $91.21. 5,185,612 shares of the stock traded hands, compared to its average volume of 2,918,731. The firm has a market capitalization of $10.02 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The firm’s fifty day moving average price is $85.45 and its 200-day moving average price is $87.06.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. As a group, equities research analysts expect that Wynn Resorts will post 4.69 earnings per share for the current year.

Institutional Trading of Wynn Resorts

Large investors have recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the third quarter worth $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Wynn Resorts during the fourth quarter worth $36,000. Spire Wealth Management raised 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 valued at $37,000 after buying an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Wynn Resorts during the 4th quarter worth about $45,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.