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

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $135.10.

Several brokerages recently commented on CHDN. Wells Fargo & Company reiterated an “overweight” rating and set a $125.00 price target (up from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Finally, Citizens Jmp upped their target price on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th.

Hedge Funds Weigh In On Churchill Downs

Hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in Churchill Downs by 8.0% in the 4th quarter. Invesco Ltd. now owns 169,001 shares of the company’s stock valued at $19,229,000 after purchasing an additional 12,539 shares during the last quarter. Corient Private Wealth LLC increased its stake in Churchill Downs by 786.6% in the fourth quarter. Corient Private Wealth LLC now owns 56,922 shares of the company’s stock valued at $6,477,000 after purchasing an additional 50,502 shares during the period. Alberta Investment Management Corp acquired a new position in Churchill Downs in the fourth quarter valued at $1,525,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Churchill Downs in the fourth quarter valued at about $263,000. Finally, VARCOV Co. acquired a new stake in shares of Churchill Downs during the fourth quarter worth about $277,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $94.00 on Tuesday. The firm has a market capitalization of $6.55 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.36 and a beta of 0.67. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $119.11. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87. The firm’s 50 day moving average is $103.95 and its two-hundred day moving average is $102.03.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.