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

Churchill Downs Incorporated (NASDAQ:CHDN) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $145.25.

CHDN has been the topic of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $156.00 price objective on shares of Churchill Downs in a report on Monday, May 6th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Truist Financial boosted their price objective on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $137.00 to $141.00 in a research note on Monday, April 15th.

Churchill Downs Trading Up 1.1 %

Churchill Downs stock opened at $140.00 on Thursday. The stock has a 50-day simple moving average of $135.21 and a 200 day simple moving average of $127.08. The stock has a market capitalization of $10.29 billion, a P/E ratio of 31.18, a PEG ratio of 3.75 and a beta of 0.97. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $141.57.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that Churchill Downs will post 6.04 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul C. Varga purchased 3,800 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Churchill Downs during the fourth quarter worth about $94,137,000. Boston Partners grew its holdings in shares of Churchill Downs by 98.1% during the 4th quarter. Boston Partners now owns 810,564 shares of the company’s stock valued at $109,347,000 after purchasing an additional 401,319 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after purchasing an additional 246,769 shares in the last quarter. Jennison Associates LLC lifted its stake in Churchill Downs by 28.9% in the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after purchasing an additional 179,814 shares during the last quarter. Finally, Capital International Investors boosted its position in Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after buying an additional 177,900 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.