Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Rating of “Buy” by Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received an average recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $156.90.

Several research firms recently issued reports on CHDN. Wells Fargo & Company raised their target price on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. JMP Securities boosted their target price on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Truist Financial restated a “buy” rating and issued a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $138.58 on Friday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The firm has a market cap of $10.19 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. The business has a 50 day moving average price of $138.75 and a 200-day moving average price of $130.45.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the prior year, the company posted $2.24 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts predict that Churchill Downs will post 6.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its stake in shares of Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Churchill Downs in the 4th quarter worth about $39,000. Kimelman & Baird LLC purchased a new stake in Churchill Downs during the 2nd quarter valued at about $42,000. Vestor Capital LLC bought a new stake in Churchill Downs during the 4th quarter valued at about $45,000. Finally, Central Pacific Bank Trust Division purchased a new position in Churchill Downs in the first quarter worth about $44,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.