Monarch Casino & Resort (NASDAQ:MCRI) Given New $88.00 Price Target at Jefferies Financial Group

Monarch Casino & Resort (NASDAQ:MCRI) had its target price upped by Jefferies Financial Group from $73.00 to $88.00 in a report issued on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

MCRI has been the topic of several other research reports. Stifel Nicolaus increased their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price for the company. Finally, Truist Financial increased their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.40.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $78.24 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73. The firm’s 50-day simple moving average is $82.13 and its 200-day simple moving average is $76.49. Monarch Casino & Resort has a twelve month low of $64.50 and a twelve month high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $1.38 EPS. On average, equities analysts forecast that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCRI. Janus Henderson Group PLC grew its stake in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after purchasing an additional 3,488 shares during the period. American Century Companies Inc. increased its stake in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after acquiring an additional 46,323 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after acquiring an additional 8,283 shares during the period. Bank of New York Mellon Corp boosted its stake in Monarch Casino & Resort by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock worth $12,177,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Monarch Casino & Resort by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after purchasing an additional 9,990 shares during the period. 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.