Churchill Downs Incorporated (NASDAQ:CHDN) Receives $158.33 Average Target Price from Brokerages

Churchill Downs Incorporated (NASDAQ:CHDN) has been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $161.75.

Several equities research analysts have issued reports on CHDN shares. Truist Financial restated a “buy” rating and issued a $166.00 price target (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Mizuho upped their price objective on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Churchill Downs Price Performance

Shares of CHDN stock opened at $138.01 on Friday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.06 and a beta of 0.97. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The stock has a 50-day moving average price of $137.79 and a 200 day moving average price of $135.33.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 EPS 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 company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the previous year, the company posted $2.24 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts expect that Churchill Downs will post 6.13 EPS for the current year.

Institutional Investors Weigh In On Churchill Downs

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Churchill Downs by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after purchasing an additional 37,065 shares in the last quarter. Capital International Investors raised its position in shares of Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Churchill Downs during the 2nd quarter valued at $125,418,000. Jennison Associates LLC boosted its holdings in Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after buying an additional 44,773 shares during the period. Finally, Boston Partners increased its stake in Churchill Downs by 4.4% in the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after buying an additional 35,587 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.