Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $159.38

Churchill Downs Incorporated (NASDAQ:CHDN) has received a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $159.38.

A number of analysts have recently weighed in on CHDN shares. StockNews.com downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus decreased their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $107.61 on Tuesday. The firm’s fifty day simple moving average is $121.90 and its 200 day simple moving average is $132.51. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.93. Churchill Downs has a twelve month low of $105.18 and a twelve month high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities research analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Churchill Downs

Several large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its position in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares in the last quarter. Winslow Asset Management Inc. increased its holdings in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the period. Commerce Bank lifted its position in Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after buying an additional 90 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after acquiring an additional 100 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock valued at $507,000 after purchasing an additional 100 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

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.