Churchill Downs, Incorporated (NASDAQ:CHDN) Receives $135.36 Average Price Target from Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $135.3636.

CHDN has been the subject of a number of recent analyst reports. Macquarie reiterated an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research report on Friday, October 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Citizens Jmp upped their price target on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $124.00 price objective (down previously from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. London Co. of Virginia lifted its stake in Churchill Downs by 38.7% in the 2nd quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after acquiring an additional 835,294 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Churchill Downs by 22,974.8% in the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after purchasing an additional 784,591 shares during the period. Jennison Associates LLC increased its holdings in shares of Churchill Downs by 52.3% in the 3rd quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock valued at $141,376,000 after purchasing an additional 500,395 shares during the period. Alua Capital Management LP purchased a new stake in shares of Churchill Downs in the third quarter worth approximately $48,532,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Churchill Downs by 49.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after purchasing an additional 452,716 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $93.69 on Friday. The company has a market capitalization of $6.53 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a fifty day moving average of $109.03 and a 200-day moving average of $103.40. Churchill Downs has a one year low of $85.58 and a one year high of $125.87.

About Churchill Downs

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.