Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Recommendation of “Moderate Buy” from Analysts

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $136.8750.

A number of equities research analysts recently commented on CHDN shares. Truist Financial set a $145.00 target price on Churchill Downs in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Finally, Citizens Jmp reduced their target price on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st.

Churchill Downs Stock Performance

Shares of CHDN opened at $89.70 on Tuesday. The business has a fifty day moving average of $86.99 and a 200 day moving average of $89.00. The firm has a market capitalization of $6.25 billion, a P/E ratio of 15.39, a PEG ratio of 0.86 and a beta of 0.68. Churchill Downs has a one year low of $79.40 and a one year high of $118.35. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36.

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

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its holdings in shares of Churchill Downs by 4.7% during the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after purchasing an additional 118 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock worth $2,479,000 after purchasing an additional 125 shares during the period. Nebula Research & Development LLC raised its stake in shares of Churchill Downs by 4.8% during the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock worth $346,000 after buying an additional 158 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Churchill Downs by 7.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock valued at $285,000 after purchasing an additional 169 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Churchill Downs by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock worth $327,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.