Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $139.00.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Citizens Jmp boosted their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $86.84 on Thursday. The company has a market capitalization of $6.05 billion, a PE ratio of 16.08, a PEG ratio of 0.57 and a beta of 0.68. Churchill Downs has a 12 month low of $80.24 and a 12 month high of $118.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock’s fifty day simple moving average is $89.61 and its 200 day simple moving average is $97.25.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The firm had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, research analysts predict that Churchill Downs will post 7.32 EPS for the current year.

Institutional Trading of Churchill Downs

Several institutional investors have recently modified their holdings of CHDN. AQR Capital Management LLC grew its stake in shares of Churchill Downs by 29.8% in the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock worth $373,000 after purchasing an additional 784 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Churchill Downs by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after purchasing an additional 121,204 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Churchill Downs by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock worth $25,080,000 after purchasing an additional 15,161 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Churchill Downs in the second quarter valued at $229,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.