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

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $158.33.

A number of equities research analysts have commented on the stock. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Jefferies Financial Group upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company boosted their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Institutional Investors Weigh In On Churchill Downs

Large investors have recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Churchill Downs in the second quarter valued at approximately $42,000. Central Pacific Bank Trust Division purchased a new stake in Churchill Downs in the first quarter valued at approximately $44,000. CWM LLC boosted its position in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. UMB Bank n.a. boosted its position in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after purchasing an additional 255 shares in the last quarter. Finally, Bank & Trust Co purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $84,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $138.69 on Friday. The firm’s 50-day moving average price is $137.31 and its 200-day moving average price is $135.05. 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 company has a market cap of $10.19 billion, a PE ratio of 30.89, a PEG ratio of 2.06 and a beta of 0.97. Churchill Downs has a 52-week low of $106.45 and a 52-week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.24 earnings per share. As a group, analysts anticipate that Churchill Downs will post 6.13 EPS for the current year.

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.