Analysts Set Churchill Downs Incorporated (NASDAQ:CHDN) Target Price at $159.38

Churchill Downs Incorporated (NASDAQ:CHDN) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $159.38.

A number of research analysts have commented on CHDN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Mizuho reduced their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus decreased their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st.

Hedge Funds Weigh In On Churchill Downs

A number of large investors have recently bought and sold shares of CHDN. Venturi Wealth Management LLC increased its holdings in Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares in the last quarter. Winslow Asset Management Inc. raised its position in shares of Churchill Downs by 2.8% in the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after buying an additional 90 shares during the last quarter. Commerce Bank raised its holdings in Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after acquiring an additional 90 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after purchasing an additional 100 shares during the last quarter. Finally, Utah Retirement Systems grew its holdings in Churchill Downs by 2.7% in the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock valued at $507,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 1.0 %

NASDAQ CHDN opened at $107.61 on Tuesday. The business’s fifty day simple moving average is $121.90 and its 200-day simple moving average is $132.51. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The firm has a market cap of $7.91 billion, a PE ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.93. Churchill Downs has a 52 week low of $105.18 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. As a group, equities analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.