Wall Street Zen Upgrades Monarch Casino & Resort (NASDAQ:MCRI) to "Buy"

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

MCRI has been the subject of several other research reports. Stifel Nicolaus dropped 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 report on Wednesday, April 23rd. Truist Financial dropped their price objective on shares of 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 reissued a "neutral" rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded down $0.74 during trading hours on Friday, reaching $86.44. 99,788 shares of the company were exchanged, compared to its average volume of 108,009. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 17.05 and a beta of 1.54. Monarch Casino & Resort has a 52-week low of $65.65 and a 52-week high of $96.11. The stock has a 50 day simple moving average of $82.06 and a 200 day simple moving average of $82.41.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The company had revenue of $125.39 million for the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a net margin of 18.19% and a return on equity of 18.53%. On average, analysts predict that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its holdings in Monarch Casino & Resort by 72.6% during the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after acquiring an additional 159 shares in the last quarter. Vestcor Inc acquired a new position in Monarch Casino & Resort during the 1st quarter worth $58,000. Meeder Asset Management Inc. grew its holdings in Monarch Casino & Resort by 45.3% during the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after acquiring an additional 355 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Monarch Casino & Resort by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock worth $104,000 after acquiring an additional 666 shares in the last quarter. Finally, CWM LLC grew its holdings in Monarch Casino & Resort by 264.7% during the 1st quarter. CWM LLC now owns 1,827 shares of the company's stock worth $142,000 after acquiring an additional 1,326 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

About Monarch Casino & Resort

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.