Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $87.20 Average PT from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have earned a consensus rating of "Hold" from the five analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $87.20.

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective 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. Truist Financial raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and upped their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th.

Institutional Trading of Monarch Casino & Resort

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Monarch Casino & Resort by 39.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,446 shares of the company's stock valued at $590,000 after acquiring an additional 2,117 shares during the period. HighTower Advisors LLC acquired a new position in shares of Monarch Casino & Resort in the third quarter valued at approximately $258,000. Wellington Management Group LLP increased its stake in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after purchasing an additional 8,283 shares during the period. Barclays PLC lifted its holdings in Monarch Casino & Resort by 108.2% during the 3rd quarter. Barclays PLC now owns 33,508 shares of the company's stock worth $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company's stock valued at $665,000 after purchasing an additional 597 shares during the period. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded up $0.84 on Friday, hitting $75.63. 105,029 shares of the company's stock were exchanged, compared to its average volume of 118,886. The firm has a 50-day moving average price of $83.31 and a 200-day moving average price of $82.02. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $96.11. The company has a market cap of $1.40 billion, a P/E ratio of 15.28 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter last year, the firm earned $1.03 EPS. On average, research analysts expect 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.