Churchill Downs, Incorporated (NASDAQ:CHDN) Given Average Rating of “Moderate Buy” by Analysts

Churchill Downs, Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $134.8889.

Several analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of Churchill Downs in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Friday, July 31st. Mizuho increased their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Finally, Susquehanna raised their price objective on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a research note on Friday, July 31st.

Churchill Downs Trading Up 1.3%

Churchill Downs stock opened at $83.86 on Friday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs has a fifty-two week low of $79.40 and a fifty-two week high of $118.35. The stock has a market cap of $5.85 billion, a P/E ratio of 14.38, a PEG ratio of 0.78 and a beta of 0.67. The firm’s fifty day moving average price is $86.90 and its 200-day moving average price is $88.29.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results 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 return on equity of 42.16% and a net margin of 13.82%.The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same period in the prior year, the company earned $3.10 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Churchill Downs will post 7.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in Churchill Downs by 8,697.6% in the second quarter. California State Teachers Retirement System now owns 6,477,297 shares of the company’s stock valued at $580,625,000 after acquiring an additional 6,403,671 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Churchill Downs in the 2nd quarter valued at approximately $555,948,000. State Street Corp lifted its position in Churchill Downs by 0.6% during the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock valued at $223,424,000 after buying an additional 11,523 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after buying an additional 7,687 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Churchill Downs by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after acquiring an additional 32,445 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, entertainment and racing company headquartered in Louisville, Kentucky. The company owns and operates Churchill Downs Racetrack, home of the Kentucky Derby, as well as other thoroughbred racing venues, casinos, racinos and historical horse racing facilities.

Its operations include live and historical horse racing, casino gaming, video lottery and other gaming activities, hospitality, dining and entertainment. Through its TwinSpires business, Churchill Downs also provides online horse-racing wagering and related digital betting services in jurisdictions where such activities are permitted.

Founded in 1875, Churchill Downs has expanded from its namesake racetrack into a diversified gaming and entertainment company.