Macquarie Increases Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $76.00

Monarch Casino & Resort (NASDAQ:MCRI) had its target price lifted by equities researchers at Macquarie from $75.00 to $76.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s price objective would suggest a potential upside of 12.86% from the stock’s current price.

MCRI has been the topic of several other research reports. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Truist Financial boosted their price objective on Monarch Casino & Resort from $72.00 to $74.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 price objective on shares of Monarch Casino & Resort in a report on Friday, January 5th.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $67.34 on Thursday. Monarch Casino & Resort has a 52 week low of $56.25 and a 52 week high of $75.52. The business’s fifty day simple moving average is $70.68 and its 200-day simple moving average is $67.07. The firm has a market cap of $1.27 billion, a PE ratio of 15.92 and a beta of 1.66. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.01.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.22%. The business had revenue of $128.19 million during the quarter, compared to analyst estimates of $119.33 million. Equities analysts forecast that Monarch Casino & Resort will post 4.55 earnings per share for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Monarch Casino & Resort by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,553 shares of the company’s stock worth $391,000 after purchasing an additional 162 shares during the period. Credit Suisse AG increased its holdings in Monarch Casino & Resort by 1.0% during the 4th quarter. Credit Suisse AG now owns 18,228 shares of the company’s stock worth $1,402,000 after purchasing an additional 177 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Monarch Casino & Resort by 40.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock worth $40,000 after purchasing an additional 184 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Monarch Casino & Resort by 0.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 36,495 shares of the company’s stock worth $3,183,000 after purchasing an additional 185 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Monarch Casino & Resort by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 31,231 shares of the company’s stock valued at $1,832,000 after acquiring an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.