Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $88.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective boosted by Jefferies Financial Group from $73.00 to $88.00 in a report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages also recently weighed in on MCRI. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Truist Financial upped their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company assumed coverage on Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.40.

Monarch Casino & Resort Stock Up 0.6 %

MCRI stock opened at $78.24 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73. The company has a 50-day simple moving average of $82.13 and a 200 day simple moving average of $76.61. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.10. The business had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter in the prior year, the company posted $1.38 earnings per share. Equities analysts anticipate that Monarch Casino & Resort will post 4.72 EPS for the current year.

Institutional Trading of Monarch Casino & Resort

Several institutional investors and hedge funds have recently bought and sold shares of MCRI. Financial Management Professionals Inc. acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at about $30,000. GAMMA Investing LLC increased its holdings in shares of Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at about $53,000. Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares during the period. Institutional investors and hedge funds 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.