Analysts Set Churchill Downs, Incorporated (NASDAQ:CHDN) PT at $135.00

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $135.60.

A number of brokerages have recently issued reports on CHDN. Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research report on Thursday. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Citizens Jmp boosted their target price on Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 14th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Capital International Investors lifted its position in Churchill Downs by 16.3% during the 3rd quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock worth $300,595,000 after acquiring an additional 434,669 shares during the period. State Street Corp lifted its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after purchasing an additional 11,523 shares during the period. Jennison Associates LLC lifted its holdings in shares of Churchill Downs by 52.3% during the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after purchasing an additional 500,395 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Churchill Downs by 0.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after buying an additional 7,687 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Churchill Downs by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after buying an additional 32,445 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.1%

Shares of Churchill Downs stock opened at $92.21 on Wednesday. The firm’s 50 day moving average price is $89.38 and its 200-day moving average price is $98.83. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 5.02. Churchill Downs has a 52-week low of $80.24 and a 52-week high of $118.46. The company has a market cap of $6.43 billion, a P/E ratio of 17.53, a PEG ratio of 1.55 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 25th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $665.90 million during the quarter, compared to analysts’ expectations of $658.01 million. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. Churchill Downs’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, sell-side analysts predict that Churchill Downs will post 6.92 EPS for the current fiscal year.

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.