Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Price Target at $88.60

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have been given a consensus rating of "Hold" by the five brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $88.60.

MCRI has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Stifel Nicolaus lowered their price target on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Truist Financial decreased their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Macquarie reissued a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently made changes to their positions in MCRI. TD Private Client Wealth LLC increased its holdings in shares of Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after acquiring an additional 159 shares during the period. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort during the 4th quarter worth $53,000. Vestcor Inc acquired a new position in Monarch Casino & Resort in the first quarter valued at $58,000. KBC Group NV raised its holdings in shares of Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after buying an additional 396 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Monarch Casino & Resort by 45.3% in the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock valued at $89,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI traded down $0.15 on Monday, reaching $83.61. 6,201 shares of the stock traded hands, compared to its average volume of 114,707. Monarch Casino & Resort has a 12 month low of $65.65 and a 12 month high of $96.11. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 16.89 and a beta of 1.59. The company has a fifty day moving average price of $78.80 and a 200-day moving average price of $82.47.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. As a group, research analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.