Monarch Casino & Resort (NASDAQ:MCRI) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI - Free Report) from a hold rating to a buy rating in a research report report published on Friday.

A number of other research firms have also commented on MCRI. Stifel Nicolaus reduced their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Truist Financial decreased their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Macquarie reaffirmed a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI traded up $0.90 on Friday, reaching $87.18. The company's stock had a trading volume of 132,642 shares, compared to its average volume of 108,119. Monarch Casino & Resort has a twelve month low of $65.65 and a twelve month high of $96.11. The firm's 50 day moving average is $82.06 and its two-hundred day moving average is $82.47. The stock has a market cap of $1.61 billion, a PE ratio of 17.20 and a beta of 1.54.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. Monarch Casino & Resort had a net margin of 18.19% and a return on equity of 18.53%. Equities research analysts anticipate that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Monarch Casino & Resort by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock valued at $1,214,000 after acquiring an additional 121 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after purchasing an additional 159 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in Monarch Casino & Resort by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company's stock worth $526,000 after buying an additional 254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Monarch Casino & Resort by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company's stock worth $576,000 after buying an additional 273 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its stake in shares of Monarch Casino & Resort by 9.3% during the 1st quarter. Heritage Family Offices LLP now owns 3,271 shares of the company's stock worth $254,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 62.37% of the company's stock.

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.