Brokerages Set Churchill Downs, Incorporated (NASDAQ:CHDN) Target Price at $136.88

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $136.8750.

CHDN has been the topic of a number of analyst reports. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st. Wells Fargo & Company lowered their price objective on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research report on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Citizens Jmp lowered their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a report on Friday, July 31st.

Institutional Trading of Churchill Downs

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Churchill Downs by 29.8% during the 1st quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after acquiring an additional 784 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock valued at $53,675,000 after acquiring an additional 121,204 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Churchill Downs by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after acquiring an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Churchill Downs during the second quarter worth about $229,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $90.71 on Tuesday. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.89 and a beta of 0.68. The firm’s fifty day simple moving average is $87.27 and its 200-day simple moving average is $88.81. Churchill Downs has a twelve month low of $79.40 and a twelve month high of $118.35. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting analysts’ consensus estimates of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Equities analysts forecast that Churchill Downs will post 7.14 EPS for the current fiscal year.

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.