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

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $135.60.

Several research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Tuesday. Citizens Jmp lifted their price objective on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Wells Fargo & Company reissued an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th.

Churchill Downs Stock Down 2.2%

CHDN opened at $90.84 on Wednesday. The company has a market capitalization of $6.33 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.54 and a beta of 0.65. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. The firm’s fifty day moving average price is $89.24 and its two-hundred day moving average price is $98.80. Churchill Downs has a fifty-two week low of $80.24 and a fifty-two week high of $118.46.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The company had revenue of $665.90 million during the quarter, compared to analysts’ expectations of $658.01 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, analysts anticipate that Churchill Downs will post 6.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CHDN. Norges Bank acquired a new position in Churchill Downs in the fourth quarter valued at about $90,529,000. AQR Capital Management LLC grew its stake in Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after buying an additional 784,591 shares during the last quarter. Jennison Associates LLC increased 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 buying an additional 500,395 shares in the last quarter. Alua Capital Management LP acquired a new stake in shares of Churchill Downs during the third quarter worth approximately $48,532,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Churchill Downs by 94.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after acquiring an additional 494,553 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

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.