Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Rating of “Buy” from Brokerages

Churchill Downs Incorporated (NASDAQ:CHDN) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $143.13.

Several research firms have weighed in on CHDN. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Mizuho began coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target on the stock. Finally, Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $137.00 to $141.00 in a research report on Monday, April 15th.

Churchill Downs Trading Down 0.3 %

NASDAQ CHDN opened at $118.96 on Friday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 8.43 and a beta of 1.03. The stock’s 50 day moving average price is $119.49 and its two-hundred day moving average price is $120.31. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $150.45.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.18. The firm had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, analysts anticipate that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Castleview Partners LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in Churchill Downs in the 4th quarter valued at $39,000. Vestor Capital LLC bought a new stake in Churchill Downs in the 4th quarter valued at $45,000. Belpointe Asset Management LLC boosted its stake in Churchill Downs by 181.3% in the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after purchasing an additional 145 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Churchill Downs by 174.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after purchasing an additional 180 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

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; and casino gaming.