Churchill Downs (NASDAQ:CHDN) Price Target Increased to $145.00 by Analysts at Truist Financial

Churchill Downs (NASDAQ:CHDN) had its price objective lifted by equities researchers at Truist Financial from $140.00 to $145.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 12.02% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, Mizuho raised their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Trading Up 0.2 %

Churchill Downs stock opened at $129.44 on Friday. The firm has a 50-day moving average of $120.00 and a 200-day moving average of $120.82. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.53. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 9.00 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. The company had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. Churchill Downs’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, equities analysts expect that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors have recently made changes to their positions in CHDN. UMB Bank n.a. raised its holdings in shares of Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Churchill Downs in the 4th quarter worth about $39,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs in the 4th quarter worth about $45,000. GAMMA Investing LLC acquired a new stake in shares of Churchill Downs in the 4th quarter worth about $66,000. Finally, Covestor Ltd raised its holdings in shares of Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.