Churchill Downs (NASDAQ:CHDN) Receives Market Outperform Rating from JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They currently have a $166.00 price target on the stock. JMP Securities’ price target points to a potential upside of 30.82% from the stock’s current price.

A number of other brokerages have also recently weighed in on CHDN. Mizuho reduced their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Down 1.6 %

CHDN stock opened at $126.89 on Thursday. The company has a 50 day moving average of $136.33 and a two-hundred day moving average of $137.75. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.97 and a beta of 0.96. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, equities analysts anticipate that Churchill Downs will post 5.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHDN. Winslow Asset Management Inc. increased its stake in shares of Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after purchasing an additional 90 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares during the period. Commerce Bank increased its stake in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after purchasing an additional 90 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock valued at $356,000 after acquiring an additional 116 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Churchill Downs by 7.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock valued at $308,000 after purchasing an additional 162 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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.