Churchill Downs’ (CHDN) “Market Outperform” Rating Reiterated at JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $166.00 target price on the stock. JMP Securities’ price target points to a potential upside of 19.58% from the company’s previous close.

A number of other analysts have also issued reports on CHDN. Macquarie boosted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial reissued a “buy” rating and set a $166.00 target price (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. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.33.

Churchill Downs Stock Up 0.1 %

NASDAQ CHDN opened at $138.82 on Monday. 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 fifty day moving average of $137.43 and a two-hundred day moving average of $135.16. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 30.92, 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 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. Churchill Downs’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. On average, analysts predict that Churchill Downs will post 6.13 earnings per share for the current year.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently made changes to their positions in CHDN. Kimelman & Baird LLC bought a new position in Churchill Downs in the second quarter worth about $42,000. Central Pacific Bank Trust Division bought a new position in Churchill Downs in the first quarter worth about $44,000. CWM LLC raised its holdings in Churchill Downs by 36.8% in the second 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. raised its holdings in Churchill Downs by 82.8% in the third 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 bought a new position in Churchill Downs in the second quarter worth about $84,000. 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.