Wynn Resorts (NASDAQ:WYNN) Given New $128.00 Price Target at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by research analysts at Stifel Nicolaus from $123.00 to $128.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price objective points to a potential upside of 44.18% from the company’s previous close.

A number of other research analysts have also issued reports on WYNN. Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays lifted their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.92.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded up $8.31 during midday trading on Friday, reaching $88.78. 5,023,772 shares of the company traded hands, compared to its average volume of 2,706,058. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a 50-day moving average price of $85.77 and a 200 day moving average price of $86.78. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results 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. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. As a group, analysts expect that Wynn Resorts will post 4.69 EPS for the current year.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts in the third quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts in the fourth quarter valued at $36,000. Spire Wealth Management grew its position 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 acquiring an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts in the fourth quarter worth $45,000. 88.64% of the stock is currently owned by 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.