Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $138.00 at JPMorgan Chase & Co.

Wynn Resorts (NASDAQ:WYNN) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $136.00 to $138.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.40% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Barclays increased their price objective on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. Mizuho boosted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, August 11th. UBS Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $132.58.

Wynn Resorts Price Performance

WYNN stock traded up $3.60 during mid-day trading on Friday, reaching $126.14. The company had a trading volume of 3,199,301 shares, compared to its average volume of 2,288,712. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.23. The firm has a 50 day moving average of $123.54 and a 200 day moving average of $106.91. The company has a market capitalization of $13.12 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director directly owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dagco Inc. acquired a new position in Wynn Resorts during the 1st quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts in the first quarter valued at about $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in shares of Wynn Resorts in the 3rd quarter worth about $26,000. Finally, Manchester Capital Management LLC lifted its holdings in Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds 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.