Churchill Downs (NASDAQ:CHDN) Earns “Market Outperform” Rating from JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $166.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 31.75% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Mizuho cut their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Up 1.1 %

Shares of NASDAQ CHDN opened at $126.00 on Thursday. The stock has a market cap of $9.26 billion, a PE ratio of 22.95, a PEG ratio of 2.97 and a beta of 0.96. The business has a fifty day moving average of $135.50 and a two-hundred day moving average of $137.57. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the previous year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Churchill Downs will post 5.84 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP grew its position in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Churchill Downs during the 3rd quarter worth about $18,368,000. State Street Corp grew its position in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after buying an additional 114,018 shares during the period. WCM Investment Management LLC acquired a new position in shares of Churchill Downs during the 3rd quarter worth about $15,231,000. Finally, Point72 Asset Management L.P. grew its position in shares of Churchill Downs by 66.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after buying an additional 100,230 shares during the period. 82.59% of the stock is owned by institutional investors.

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; casino gaming; and Terre Haute Casino Resort.