Churchill Downs (NASDAQ:CHDN) Receives “Market Outperform” Rating from JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $166.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 31.75% from the company’s current price.

A number of other equities research analysts have also recently issued reports on CHDN. Wells Fargo & Company upped their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Trading Up 1.1 %

NASDAQ CHDN opened at $126.00 on Thursday. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.97 and a beta of 0.96. The stock’s 50 day moving average price is $135.50 and its two-hundred day moving average price is $137.57. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Churchill Downs will post 5.84 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Large investors have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new stake in shares of Churchill Downs during the 3rd quarter worth $516,000. Westfield Capital Management Co. LP boosted its stake in Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in 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 buying an additional 100,230 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Churchill Downs in the second quarter valued at about $794,000. Finally, Dimensional Fund Advisors LP raised its position in Churchill Downs by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after purchasing an additional 57,892 shares during the last quarter. 82.59% of the stock is 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; casino gaming; and Terre Haute Casino Resort.