BidaskClub Upgrades Eldorado Resorts (ERI) to Strong-Buy

Eldorado Resorts (NASDAQ:ERI) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

A number of other analysts have also recently weighed in on ERI. SunTrust Banks reissued an “average” rating and issued a $36.00 price objective on shares of Eldorado Resorts in a research report on Monday, February 5th. TheStreet raised Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Jefferies Group assumed coverage on Eldorado Resorts in a research report on Thursday, January 18th. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research raised Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $32.83.

Shares of Eldorado Resorts (NASDAQ ERI) opened at $30.65 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.71 and a debt-to-equity ratio of 2.60. Eldorado Resorts has a 52-week low of $15.63 and a 52-week high of $35.30.

In other Eldorado Resorts news, Director Bonnie Biumi sold 13,079 shares of Eldorado Resorts stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $29.50, for a total transaction of $385,830.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.18% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. SG Capital Management LLC acquired a new stake in Eldorado Resorts during the 3rd quarter worth about $13,014,000. Comerica Bank acquired a new stake in Eldorado Resorts during the 3rd quarter worth about $852,000. Nationwide Fund Advisors lifted its position in Eldorado Resorts by 60.7% during the 3rd quarter. Nationwide Fund Advisors now owns 123,310 shares of the company’s stock worth $3,163,000 after acquiring an additional 46,554 shares during the period. Wells Fargo & Company MN lifted its position in Eldorado Resorts by 15.0% during the 3rd quarter. Wells Fargo & Company MN now owns 98,747 shares of the company’s stock worth $2,532,000 after acquiring an additional 12,877 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in Eldorado Resorts during the 3rd quarter worth about $2,190,000. 80.17% of the stock is owned by institutional investors.

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About Eldorado Resorts

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.

Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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