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

Churchill Downs, Incorporated (NASDAQ:CHDN) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $135.00.

Several equities research analysts recently weighed in on the stock. Citizens Jmp upped their price objective on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th.

Churchill Downs Stock Down 4.7%

Shares of Churchill Downs stock opened at $83.68 on Friday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. Churchill Downs has a 1-year low of $80.24 and a 1-year high of $118.46. The business’s fifty day moving average price is $94.33 and its two-hundred day moving average price is $100.11. The company has a market capitalization of $5.83 billion, a P/E ratio of 15.91, a PEG ratio of 1.46 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. The company had revenue of $665.90 million during the quarter, compared to analysts’ expectations of $658.01 million. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, research analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Churchill Downs by 29.8% during the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after acquiring an additional 784 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after purchasing an additional 121,204 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Churchill Downs by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock worth $25,080,000 after purchasing an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Churchill Downs during the second quarter worth approximately $229,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

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.