Churchill Downs (NASDAQ:CHDN) Price Target Raised to $161.00 at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its target price hoisted by Wells Fargo & Company from $150.00 to $161.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Truist Financial lifted their price target on shares of Churchill Downs from $145.00 to $165.00 and gave the company a buy rating in a research report on Thursday, July 18th. StockNews.com cut shares of Churchill Downs from a hold rating to a sell rating in a research report on Thursday. Stifel Nicolaus increased their price target on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a report on Monday, July 22nd. JMP Securities boosted their price objective on Churchill Downs from $156.00 to $158.00 and gave the stock a market outperform rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group upped their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $155.60.

Churchill Downs Stock Up 3.3 %

Shares of CHDN opened at $142.58 on Friday. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The company’s fifty day moving average is $137.50 and its two-hundred day moving average is $128.08. The firm has a market cap of $10.48 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.05 and a beta of 0.97. The company has a quick ratio of 0.50, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. Analysts forecast that Churchill Downs will post 6.03 earnings per share for the current year.

Insider Buying and Selling at Churchill Downs

In related news, Director Paul C. Varga purchased 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Churchill Downs

Several large investors have recently modified their holdings of CHDN. Capital Research Global Investors raised its stake in Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after buying an additional 35,337 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Churchill Downs by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after acquiring an additional 37,065 shares in the last quarter. Capital International Investors lifted its stake in Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares during the last quarter. Jennison Associates LLC boosted its holdings in Churchill Downs by 5.6% in the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after purchasing an additional 44,773 shares during the period. Finally, Boston Partners increased its stake in Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after purchasing an additional 35,587 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

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; and casino gaming.