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

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given an average recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $87.20.

MCRI has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective 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 Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently bought and sold shares of the business. DAVENPORT & Co LLC increased its holdings in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after purchasing an additional 19,845 shares during the last quarter. Vanguard Group Inc. boosted its stake in Monarch Casino & Resort by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company’s stock worth $79,193,000 after purchasing an additional 9,234 shares during the period. JPMorgan Chase & Co. raised its position in Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after buying an additional 72,764 shares during the last quarter. American Century Companies Inc. boosted its position in Monarch Casino & Resort by 9.3% during the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company’s stock worth $31,881,000 after acquiring an additional 34,384 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Monarch Casino & Resort in the fourth quarter worth $19,346,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Up 1.6 %

Shares of Monarch Casino & Resort stock opened at $75.16 on Friday. Monarch Casino & Resort has a 12-month low of $64.50 and a 12-month high of $96.11. The stock has a market cap of $1.39 billion, a PE ratio of 15.18 and a beta of 1.57. The company has a 50-day moving average of $83.73 and a two-hundred day moving average of $82.09.

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