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

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

MCRI has been the topic of a number of other research reports. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 12th. Stifel Nicolaus cut their target price on 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 reduced their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie restated a "neutral" rating and issued a $92.00 price target 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock traded up $1.23 on Friday, hitting $84.87. The company's stock had a trading volume of 21,926 shares, compared to its average volume of 115,024. Monarch Casino & Resort has a fifty-two week low of $65.65 and a fifty-two week high of $96.11. The company has a market capitalization of $1.57 billion, a PE ratio of 17.15 and a beta of 1.59. The stock's 50 day moving average is $78.60 and its 200-day moving average is $82.45.

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

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds and other institutional investors have recently modified their holdings of MCRI. LPL Financial LLC boosted its stake in shares of Monarch Casino & Resort by 47.0% in the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after purchasing an additional 2,155 shares in the last quarter. Barclays PLC lifted its stake in Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company's stock valued at $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $1,516,000. Dark Forest Capital Management LP bought a new stake in shares of Monarch Casino & Resort during the fourth quarter worth $325,000. Finally, Deutsche Bank AG grew its stake in shares of Monarch Casino & Resort by 45.3% during the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company's stock worth $881,000 after buying an additional 3,477 shares during the last quarter. Institutional investors own 62.37% of the company's stock.

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.