Zacks Investment Research upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Monarch Casino & Resort, Inc. is dedicated to deliver the ultimate guest experience by providing exceptional services as well as the latest gaming, dining and hospitality amenities. With a main focus on their guests’ superior expectations, they continue to aggressively reinvest in our properties. As a market leader, they invite them to become more familiar with their company, their operations and their management team. Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado, approximately 40 miles west of Denver. “

Separately, BidaskClub raised shares of Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th.

Shares of Monarch Casino & Resort stock traded up $0.82 during trading on Thursday, reaching $47.71. The company’s stock had a trading volume of 40,467 shares, compared to its average volume of 35,023. The stock has a 50-day moving average price of $43.49. The company has a market capitalization of $858.11 million, a price-to-earnings ratio of 25.79, a PEG ratio of 2.02 and a beta of 1.03. Monarch Casino & Resort has a fifty-two week low of $34.45 and a fifty-two week high of $48.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 0.64.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 24th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $62.76 million for the quarter, compared to analysts’ expectations of $61.20 million. Monarch Casino & Resort had a net margin of 14.01% and a return on equity of 11.24%. As a group, sell-side analysts anticipate that Monarch Casino & Resort will post 1.87 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Monarch Casino & Resort by 22.7% in the 1st quarter. Bank of Montreal Can now owns 1,447 shares of the company’s stock valued at $63,000 after buying an additional 268 shares during the period. BNP Paribas Arbitrage SA increased its stake in Monarch Casino & Resort by 1,013.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,361 shares of the company’s stock valued at $104,000 after buying an additional 2,149 shares during the period. FMR LLC increased its stake in Monarch Casino & Resort by 18.5% in the 4th quarter. FMR LLC now owns 2,558 shares of the company’s stock valued at $98,000 after buying an additional 400 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $128,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Monarch Casino & Resort by 375.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,992 shares of the company’s stock valued at $152,000 after buying an additional 3,152 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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