Stifel Nicolaus Increases Churchill Downs (NASDAQ:CHDN) Price Target to $160.00

Churchill Downs (NASDAQ:CHDN) had its price objective upped by Stifel Nicolaus from $153.00 to $160.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Churchill Downs from a sell rating to a hold rating in a report on Wednesday, May 15th. Jefferies Financial Group lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Thursday, July 11th. Truist Financial upped their target price on Churchill Downs from $145.00 to $165.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Mizuho lifted their price target on Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research report on Friday, April 26th. Finally, JMP Securities upped their price objective on Churchill Downs from $156.00 to $158.00 and gave the stock a market outperform rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $151.11.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $137.96 on Monday. The business has a fifty day moving average of $137.32 and a 200 day moving average of $127.98. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 3.13 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same quarter in the previous year, the company posted $2.24 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Churchill Downs will post 6.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul C. Varga bought 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were acquired 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 directly owns 28,902 shares in the company, valued at $3,763,618.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHDN. First Horizon Advisors Inc. lifted its position in shares of Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after acquiring an additional 99 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares during the last quarter. UMB Bank n.a. lifted its holdings in 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 in the last quarter. M&T Bank Corp boosted its stake in Churchill Downs by 5.2% during the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after purchasing an additional 118 shares during the last quarter. Finally, CWM LLC grew its holdings 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 buying an additional 118 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other 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; and casino gaming.