Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Recommendation of “Buy” by Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDNGet Free Report) have earned an average rating of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $145.25.

Several brokerages have weighed in on CHDN. JMP Securities reiterated a “market outperform” rating and issued a $156.00 price objective on shares of Churchill Downs in a research report on Monday, May 6th. Stifel Nicolaus raised their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial upped their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $137.00 to $141.00 in a research report on Monday, April 15th.

Read Our Latest Report on Churchill Downs

Insider Buying and Selling at Churchill Downs

In other news, Director Paul C. Varga bought 3,800 shares of the stock in a transaction dated 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 purchase, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Churchill Downs in the fourth quarter worth about $94,137,000. Boston Partners increased its position in Churchill Downs by 98.1% during the 4th quarter. Boston Partners now owns 810,564 shares of the company’s stock valued at $109,347,000 after buying an additional 401,319 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after buying an additional 246,769 shares in the last quarter. Jennison Associates LLC raised its stake in Churchill Downs by 28.9% during the fourth quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after buying an additional 179,814 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after acquiring an additional 177,900 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

CHDN stock opened at $138.73 on Thursday. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $10.20 billion, a P/E ratio of 30.90, a P/E/G ratio of 3.06 and a beta of 0.97. The firm’s fifty day moving average is $136.17 and its 200 day moving average is $127.32. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $141.57.

Churchill Downs (NASDAQ:CHDNGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. Research analysts predict that Churchill Downs will post 6.04 earnings per share for the current year.

Churchill Downs Company Profile

(Get Free Report

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.

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Analyst Recommendations for Churchill Downs (NASDAQ:CHDN)

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