Wynn Resorts (NASDAQ:WYNN) Stock Rating Upgraded by StockNews.com

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

A number of other equities analysts have also issued reports on the stock. Morgan Stanley raised their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $118.00 in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday. Finally, Macquarie reiterated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $120.58.

Wynn Resorts Price Performance

Wynn Resorts stock traded up $2.39 during midday trading on Tuesday, reaching $91.21. The company’s stock had a trading volume of 5,185,612 shares, compared to its average volume of 2,918,731. The stock has a market capitalization of $10.02 billion, a P/E ratio of 11.25, a PEG ratio of 2.32 and a beta of 1.76. The stock’s 50-day simple moving average is $85.45 and its 200-day simple moving average is $87.06. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations 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 fiscal year.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Regal Partners Ltd lifted its holdings in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after buying an additional 54,995 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Wynn Resorts during the fourth quarter worth about $903,000. Crystal Rock Capital Management purchased a new stake in Wynn Resorts during the 3rd quarter valued at about $719,000. Finally, ARGA Investment Management LP acquired a new stake in Wynn Resorts in the 3rd quarter valued at about $2,174,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.