Churchill Downs, Incorporated (CHDN) – What Are Researchers Saying About This Stock?

Churchill Downs, Incorporated (NASDAQ:CHDN) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $133.90.

CHDN has been the subject of a number of research analyst reports. Susquehanna increased their target price on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a report on Friday, July 31st. Wells Fargo & Company reduced their price target on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Wolfe Research began coverage on shares of Churchill Downs in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Citizens Jmp dropped their price objective on shares of Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating for the company in a report on Tuesday.

Churchill Downs Stock Up 0.7%

CHDN stock opened at $81.06 on Wednesday. Churchill Downs has a one year low of $73.08 and a one year high of $118.35. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s fifty day moving average is $84.14 and its 200 day moving average is $86.84. The firm has a market cap of $5.65 billion, a PE ratio of 13.90, a P/E/G ratio of 0.76 and a beta of 0.77.

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

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Brown Inc. lifted its stake in shares of Churchill Downs by 4.7% in the 3rd quarter. Atlas Brown Inc. now owns 3,351 shares of the company’s stock valued at $254,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Churchill Downs by 19.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,383 shares of the company’s stock worth $105,000 after purchasing an additional 227 shares during the last quarter. Tidal Investments LLC increased its position in shares of Churchill Downs by 43.8% during the 2nd quarter. Tidal Investments LLC now owns 226,804 shares of the company’s stock worth $20,331,000 after purchasing an additional 69,098 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Churchill Downs by 118.8% during the 2nd quarter. Engineers Gate Manager LP now owns 54,890 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,807 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Churchill Downs by 13.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,948 shares of the company’s stock worth $444,000 after purchasing an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

About Churchill Downs

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.