Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $128.00 by Analysts at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by equities research analysts at Barclays from $124.00 to $128.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Barclays‘s price objective would indicate a potential upside of 31.26% from the stock’s previous close.

Several other brokerages also recently issued reports on WYNN. Wells Fargo & Company upped their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group decreased their price target on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Macquarie lifted their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.93.

Wynn Resorts Price Performance

WYNN stock traded up $1.77 during midday trading on Thursday, hitting $97.52. The stock had a trading volume of 922,906 shares, compared to its average volume of 1,811,781. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $113.50. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 16.30 and a beta of 1.91. The business has a 50-day moving average of $100.24 and a two-hundred day moving average of $95.39.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. Research analysts predict that Wynn Resorts will post 5.37 earnings per share for the current year.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the sale, the chief financial officer now owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at $8,226,850.50. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. Blue Trust Inc. boosted its position in Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Wynn Resorts in the fourth quarter valued at about $27,000. Sunbelt Securities Inc. raised its holdings in Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth approximately $38,000. 68.87% of the stock is currently owned by institutional investors.

About Wynn Resorts

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.