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

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have earned a consensus rating of "Hold" from the five research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $87.20.

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

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Monarch Casino & Resort Stock Performance

NASDAQ:MCRI traded up $1.16 during trading hours on Friday, reaching $75.16. The company's stock had a trading volume of 180,579 shares, compared to its average volume of 118,826. The firm has a 50-day simple moving average of $83.73 and a 200-day simple moving average of $82.09. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $96.11. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.18 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating 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 period in the prior year, the company earned $1.03 earnings per share. Equities analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently added to or reduced their stakes in MCRI. BNP Paribas Financial Markets boosted its position in shares of Monarch Casino & Resort by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 7,446 shares of the company's stock valued at $590,000 after buying an additional 2,117 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $258,000. Wellington Management Group LLP lifted 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 period. Barclays PLC boosted its holdings in Monarch Casino & Resort by 108.2% in the third quarter. Barclays PLC now owns 33,508 shares of the company's stock worth $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company's stock worth $665,000 after purchasing an additional 597 shares during the period. 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.