Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $155.60

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been given an average recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $157.11.

A number of equities analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and set a $166.00 price target (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Macquarie increased their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, JMP Securities increased their price objective on shares of Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th.

Churchill Downs Stock Performance

Shares of CHDN opened at $135.36 on Monday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $9.95 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.40 and a beta of 0.97. The company’s fifty day moving average is $138.15 and its two-hundred day moving average is $128.68. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.24 EPS. On average, sell-side analysts predict that Churchill Downs will post 6.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in shares of Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares during the period. Nisa Investment Advisors LLC increased its position in Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after purchasing an additional 105 shares in the last quarter. UMB Bank n.a. increased its position in 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 purchasing an additional 107 shares in the last quarter. M&T Bank Corp increased its position in Churchill Downs by 5.2% during the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after purchasing an additional 118 shares in the last quarter. Finally, CWM LLC increased its position in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Company Profile

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.