Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $156.90

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $156.90.

Several equities analysts recently weighed in on CHDN shares. Mizuho increased their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Macquarie raised their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, JMP Securities upped their price target on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th.

Churchill Downs Stock Up 1.3 %

NASDAQ CHDN opened at $140.60 on Tuesday. The stock has a market capitalization of $10.33 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $146.64. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a fifty day moving average of $138.67 and a 200-day moving average of $132.38.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.24 earnings per share. On average, equities research analysts forecast that Churchill Downs will post 6.17 EPS for the current year.

Institutional Trading of Churchill Downs

Several hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after acquiring an additional 35,337 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Churchill Downs by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after purchasing an additional 37,065 shares during the period. Capital International Investors lifted its holdings in shares of 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 purchasing an additional 177,900 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs during the second quarter worth about $125,418,000. Finally, Jennison Associates LLC grew its holdings in shares of Churchill Downs by 5.6% during the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after buying an additional 44,773 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

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.