Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) Target Price at $232.60

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $228.17.

Several equities analysts have commented on the stock. Macquarie assumed coverage on shares of Churchill Downs in a research report on Friday, June 18th. They set an “outperform” rating and a $254.00 target price on the stock. Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating and set a $206.00 target price for the company in a research report on Wednesday, July 14th. Finally, Jefferies Financial Group upgraded Churchill Downs from a “hold” rating to a “buy” rating and set a $244.00 price objective on the stock in a research note on Friday, May 14th.

In other news, SVP Austin W. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $204.77, for a total value of $614,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.28% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of CHDN. Marshall Wace North America L.P. lifted its position in Churchill Downs by 200.0% in the first quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock valued at $70,000 after purchasing an additional 520 shares during the last quarter. First Trust Advisors LP increased its holdings in Churchill Downs by 290.7% during the 1st quarter. First Trust Advisors LP now owns 16,361 shares of the company’s stock valued at $1,477,000 after purchasing an additional 12,173 shares during the period. HighTower Advisors LLC grew its position in shares of Churchill Downs by 14.1% in the 4th quarter. HighTower Advisors LLC now owns 1,786 shares of the company’s stock worth $347,000 after buying an additional 221 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Churchill Downs by 59.6% during the fourth quarter. Teacher Retirement System of Texas now owns 3,245 shares of the company’s stock valued at $632,000 after buying an additional 1,212 shares during the period. Finally, Eaton Vance Management bought a new position in shares of Churchill Downs during the fourth quarter valued at approximately $5,397,000. Hedge funds and other institutional investors own 72.34% of the company’s stock.

NASDAQ CHDN traded up $0.49 on Thursday, reaching $191.11. The company had a trading volume of 8,455 shares, compared to its average volume of 484,897. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 9.71. The business has a fifty day moving average price of $195.69. Churchill Downs has a 52-week low of $124.13 and a 52-week high of $258.32. The stock has a market capitalization of $7.36 billion, a PE ratio of -328.66 and a beta of 1.34.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Tuesday, April 20th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.31. Churchill Downs had a negative net margin of 1.99% and a positive return on equity of 21.83%. The company had revenue of $324.30 million for the quarter, compared to analyst estimates of $290.95 million. During the same period last year, the firm earned $0.05 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis. Sell-side analysts predict that Churchill Downs will post 5.91 earnings per share for the current fiscal year.

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: Churchill Downs, Online Wagering, and Gaming. As of March 18, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; seven retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Analyst Recommendations for Churchill Downs (NASDAQ:CHDN)

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