Churchill Downs (NASDAQ:CHDN) Rating Reiterated by JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating restated by JMP Securities in a report issued on Monday, Benzinga reports. They currently have a $156.00 target price on the stock. JMP Securities’ target price indicates a potential upside of 12.98% from the company’s current price.

Other analysts have also recently issued research reports about the company. Mizuho increased their target price on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $137.00 to $141.00 in a report on Monday, April 15th. Stifel Nicolaus raised their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Truist Financial lifted their price target on shares of Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Churchill Downs Stock Performance

CHDN opened at $138.08 on Monday. The company has a 50 day simple moving average of $121.85 and a two-hundred day simple moving average of $121.92. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market cap of $10.15 billion, a P/E ratio of 30.75, a PEG ratio of 3.81 and a beta of 0.99. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $148.36.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter in the previous year, the company earned $0.98 EPS. Churchill Downs’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts forecast that Churchill Downs will post 5.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Churchill Downs

In related news, Director Paul C. Varga purchased 3,800 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Churchill Downs by 29.0% in the first quarter. Sei Investments Co. now owns 36,100 shares of the company’s stock valued at $4,468,000 after acquiring an additional 8,116 shares during the period. Concurrent Investment Advisors LLC bought a new position in Churchill Downs during the 1st quarter valued at about $354,000. Envestnet Portfolio Solutions Inc. raised its position in Churchill Downs by 12.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,531 shares of the company’s stock worth $1,179,000 after purchasing an additional 1,085 shares during the period. Texas Permanent School Fund Corp lifted its stake in Churchill Downs by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 59,409 shares of the company’s stock worth $7,352,000 after purchasing an additional 769 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Churchill Downs in the first quarter worth about $44,000. 82.59% of the stock is owned by hedge funds and other 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; and casino gaming.