Churchill Downs (NASDAQ:CHDN) Price Target Raised to $153.00

Churchill Downs (NASDAQ:CHDN) had its price target boosted by equities researchers at Stifel Nicolaus from $150.00 to $153.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 18.20% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Truist Financial increased their price target on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities reissued 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 increased their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $144.50.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $129.44 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. The stock’s 50 day moving average price is $120.00 and its two-hundred day moving average price is $120.82. The firm has a market capitalization 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 has a 12-month low of $106.45 and a 12-month high of $150.45.

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

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after buying an additional 107 shares in the last quarter. Krilogy Financial LLC raised its holdings in Churchill Downs by 8.3% during the 1st quarter. Krilogy Financial LLC now owns 13,018 shares of the company’s stock valued at $1,611,000 after acquiring an additional 1,000 shares during the period. Simplicity Wealth LLC bought a new stake in Churchill Downs during the 1st quarter valued at $448,000. Assenagon Asset Management S.A. bought a new stake in Churchill Downs during the 1st quarter valued at $237,000. Finally, Louisiana State Employees Retirement System raised its holdings in Churchill Downs by 2.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the company’s stock valued at $2,413,000 after acquiring an additional 400 shares during the period. Institutional investors own 82.59% of the company’s stock.

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; and casino gaming.