Monarch Casino & Resort (NASDAQ:MCRI) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) had its price objective boosted by research analysts at Jefferies Financial Group from $73.00 to $88.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 12.47% from the stock's previous close.

A number of other brokerages have also weighed in on MCRI. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a research report on Thursday, October 24th. 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 price objective on the stock. StockNews.com downgraded shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, December 17th. Finally, Truist Financial raised 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 report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $80.40.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI traded up $0.50 during midday trading on Friday, reaching $78.24. The company's stock had a trading volume of 78,043 shares, compared to its average volume of 68,621. The firm has a 50 day moving average price of $82.13 and a two-hundred day moving average price of $76.49. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly 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. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The firm had revenue of $137.87 million for the quarter, compared to analysts' expectations of $134.50 million. During the same period in the prior year, the business earned $1.38 EPS. As a group, research analysts anticipate that Monarch Casino & Resort will post 4.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Monarch Casino & Resort during the third quarter worth $30,000. GAMMA Investing LLC boosted 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 worth $37,000 after buying an additional 178 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Monarch Casino & Resort during the second quarter valued at about $53,000. Canada Pension Plan Investment Board purchased a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $185,000 after purchasing an additional 1,221 shares during the period. 62.37% of the stock is 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 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.