Analysts Set Churchill Downs, Incorporated (NASDAQ:CHDN) Target Price at $139.00

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $139.00.

A number of equities analysts have recently issued reports on the stock. Truist Financial set a $145.00 price target on shares of Churchill Downs in a report on Friday, June 12th. Citizens Jmp upped their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its holdings in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the 3rd quarter worth $25,000. Parkside Financial Bank & Trust increased its holdings in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Churchill Downs in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $90.91 on Monday. The business’s fifty day moving average price is $89.17 and its 200 day moving average price is $94.42. Churchill Downs has a 1-year low of $80.24 and a 1-year high of $118.46. The firm has a market capitalization of $6.34 billion, a PE ratio of 16.84, a P/E/G ratio of 0.60 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.Churchill Downs’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. As a group, sell-side analysts forecast that Churchill Downs will post 7.32 EPS for the current fiscal year.

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.