Churchill Downs Incorporated (NASDAQ:CHDN) Receives $156.90 Consensus PT from Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $156.90.

A number of research analysts have weighed in on CHDN shares. Wells Fargo & Company raised their price target on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Macquarie boosted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th.

Churchill Downs Stock Performance

Shares of CHDN opened at $140.60 on Tuesday. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The firm has a fifty day simple moving average of $138.67 and a 200 day simple moving average of $132.38. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. Research analysts forecast that Churchill Downs will post 6.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its position in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after purchasing an additional 100,230 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Churchill Downs in the 2nd quarter valued at $4,237,000. Truist Financial Corp increased its position in Churchill Downs by 215.9% during the 2nd quarter. Truist Financial Corp now owns 24,147 shares of the company’s stock worth $3,371,000 after buying an additional 16,502 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $42,000. Finally, Creative Planning boosted its position in shares of Churchill Downs by 14.3% in the second quarter. Creative Planning now owns 4,035 shares of the company’s stock valued at $563,000 after acquiring an additional 504 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

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.