Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Target Price at $87.20

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $87.20.

A number of analysts recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC bought a new stake in Monarch Casino & Resort during the 3rd quarter worth about $258,000. Barclays PLC increased its position in shares of Monarch Casino & Resort by 108.2% in the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after acquiring an additional 17,413 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Monarch Casino & Resort during the fourth quarter worth about $1,516,000. Wellington Management Group LLP boosted its position in Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $254,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Up 1.1 %

NASDAQ:MCRI opened at $75.63 on Friday. Monarch Casino & Resort has a 1-year low of $64.58 and a 1-year high of $96.11. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.28 and a beta of 1.57. The business’s 50-day moving average price is $83.10 and its two-hundred day moving average price is $82.03.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter last year, the business posted $1.03 EPS. Sell-side analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

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.