Truist Financial Raises Churchill Downs (NASDAQ:CHDN) Price Target to $165.00

Churchill Downs (NASDAQ:CHDN) had its price target boosted by Truist Financial from $145.00 to $165.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

CHDN has been the topic of several other research reports. Mizuho upped their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a buy rating in a report on Friday, April 26th. JMP Securities upped their target price on shares of Churchill Downs from $156.00 to $158.00 and gave the stock a market outperform rating in a research note on Wednesday, July 17th. Wells Fargo & Company raised their target price on shares of Churchill Downs from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Stifel Nicolaus boosted their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, StockNews.com upgraded shares of Churchill Downs from a sell rating to a hold rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $150.33.

Churchill Downs Trading Down 0.2 %

NASDAQ CHDN opened at $140.11 on Thursday. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 3.10 and a beta of 0.97. The firm has a 50 day simple moving average of $136.91 and a 200-day simple moving average of $127.66. Churchill Downs has a one year low of $106.45 and a one year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.78 by $0.35. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. Equities research analysts anticipate that Churchill Downs will post 6.03 EPS for the current fiscal year.

Insider Activity at Churchill Downs

In related news, Director Paul C. Varga purchased 3,800 shares of Churchill Downs stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.13% of the company’s stock.

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its position in shares of Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Churchill Downs in the fourth quarter valued at approximately $39,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs in the fourth quarter valued at approximately $45,000. Central Pacific Bank Trust Division purchased a new position in shares of Churchill Downs during the first quarter worth approximately $44,000. Finally, CWM LLC grew its position in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.