Churchill Downs Inc. (CHDN) Coverage Initiated by Analysts at JPMorgan Chase & Co.
Analysts at JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs Inc. (NASDAQ:CHDN) in a research note issued to investors on Thursday. The firm set a “neutral” rating on the stock.
A number of other analysts have also weighed in on CHDN. Zacks Investment Research raised Churchill Downs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Telsey Advisory Group raised their price target on Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Finally, Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Churchill Downs has a consensus rating of “Buy” and an average price target of $161.00.
Shares of Churchill Downs (NASDAQ:CHDN) opened at 148.44 on Thursday. The stock has a 50 day moving average of $147.37 and a 200 day moving average of $137.02. Churchill Downs has a 1-year low of $118.76 and a 1-year high of $152.98. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 30.33 and a beta of 0.95.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.55. The firm earned $438.50 million during the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.10 earnings per share. On average, equities analysts forecast that Churchill Downs will post $6.01 EPS for the current year.
In related news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $148.75, for a total value of $743,750.00. Following the completion of the sale, the director now owns 189,235 shares of the company’s stock, valued at $28,148,706.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.05% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in shares of Churchill Downs during the first quarter valued at approximately $104,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Churchill Downs by 0.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 773 shares of the company’s stock valued at $114,000 after buying an additional 5 shares in the last quarter. BlackRock Inc. raised its position in shares of Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock valued at $133,000 after buying an additional 501 shares in the last quarter. Bruderman Asset Management LLC purchased a new position in shares of Churchill Downs during the second quarter valued at approximately $140,000. Finally, Advantus Capital Management Inc purchased a new position in shares of Churchill Downs during the second quarter valued at approximately $184,000. 72.12% of the stock is owned by institutional investors.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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