Churchill Downs, Incorporated (NASDAQ:CHDN) Receives $139.09 Consensus Price Target from Brokerages

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned a consensus rating of “Buy” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $138.18.

Several brokerages recently commented on CHDN. Wall Street Zen raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Mizuho cut their price objective on shares of Churchill Downs from $137.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, May 23rd. Jefferies Financial Group cut their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays cut their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial lowered their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday.

Churchill Downs Trading Up 1.2%

NASDAQ:CHDN opened at $105.41 on Monday. The company has a fifty day moving average of $99.20 and a 200 day moving average of $108.81. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. The firm has a market capitalization of $7.61 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.97 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The company had revenue of $642.60 million for the quarter, compared to analysts’ expectations of $649.68 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, research analysts predict that Churchill Downs will post 6.92 earnings per share for the current year.

Insider Activity at Churchill Downs

In related news, Director R Alex Rankin acquired 2,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $92.65 per share, with a total value of $185,300.00. Following the acquisition, the director directly owned 99,012 shares in the company, valued at $9,173,461.80. This represents a 2.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas C. Grissom acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $92.77 per share, with a total value of $927,700.00. Following the completion of the acquisition, the director owned 38,869 shares in the company, valued at approximately $3,605,877.13. This represents a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its position in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares during the last quarter. Elequin Capital LP bought a new stake in Churchill Downs in the first quarter worth $29,000. Signaturefd LLC lifted its position in Churchill Downs by 161.1% in the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after buying an additional 203 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock worth $46,000 after buying an additional 253 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock worth $51,000 after buying an additional 129 shares during the last quarter. 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; casino gaming; and Terre Haute Casino Resort.