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

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Friday.

A number of other analysts have also commented on the stock. Truist Financial reduced 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 note on Wednesday, April 23rd. Wells Fargo & Company upped their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. Macquarie restated a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus dropped their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Stock Down 0.2%

Shares of MCRI traded down $0.17 during midday trading on Friday, hitting $83.85. The company had a trading volume of 105,451 shares, compared to its average volume of 115,385. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 16.94 and a beta of 1.59. The company's 50 day moving average price is $78.55 and its 200 day moving average price is $82.45. Monarch Casino & Resort has a 52 week low of $65.65 and a 52 week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. Equities analysts anticipate that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

Several hedge funds and other institutional investors have recently modified their holdings of MCRI. Rhumbline Advisers grew its stake in Monarch Casino & Resort by 1.1% in the first quarter. Rhumbline Advisers now owns 29,525 shares of the company's stock valued at $2,296,000 after purchasing an additional 322 shares in the last quarter. Strs Ohio purchased a new stake in shares of Monarch Casino & Resort during the 1st quarter worth about $606,000. Acadian Asset Management LLC lifted its stake in Monarch Casino & Resort by 1.0% in the first quarter. Acadian Asset Management LLC now owns 44,537 shares of the company's stock valued at $3,459,000 after acquiring an additional 453 shares during the last quarter. Jane Street Group LLC lifted its stake in Monarch Casino & Resort by 12.2% in the first quarter. Jane Street Group LLC now owns 156,346 shares of the company's stock valued at $12,156,000 after acquiring an additional 17,027 shares during the last quarter. Finally, Petrus Trust Company LTA bought a new stake in Monarch Casino & Resort in the first quarter worth approximately $217,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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.