Churchill Downs Incorporated (NASDAQ:CHDN) Receives $158.33 Consensus Price Target from Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $158.33.

A number of brokerages have recently issued reports on CHDN. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Macquarie increased their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Mizuho boosted their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Institutional Trading of Churchill Downs

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in Churchill Downs by 5.6% during 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. Westfield Capital Management Co. LP increased its stake in Churchill Downs by 12.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after buying an additional 47,269 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Churchill Downs by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock worth $20,425,000 after buying an additional 9,354 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Churchill Downs by 259.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after buying an additional 14,331 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $140.11 on Friday. The business’s 50-day moving average is $137.59 and its two-hundred day moving average is $135.19. The company has a market capitalization of $10.30 billion, a P/E ratio of 31.20, a P/E/G ratio of 2.06 and a beta of 0.97. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. 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 (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. The business had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.24 EPS. Research analysts predict that Churchill Downs will post 6.13 earnings per share for the current year.

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; casino gaming; and Terre Haute Casino Resort.