Churchill Downs’ (CHDN) Market Outperform Rating Reiterated at JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research report issued on Monday,Benzinga reports. They presently have a $144.00 price objective on the stock. JMP Securities’ price objective would suggest a potential upside of 57.23% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus reduced their price target on Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Truist Financial reduced their target price on Churchill Downs from $162.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Macquarie dropped their price target on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group decreased their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Churchill Downs Stock Down 1.8 %

Shares of Churchill Downs stock traded down $1.64 during trading on Monday, reaching $91.59. The stock had a trading volume of 26,730 shares, compared to its average volume of 538,010. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 2.95 and a beta of 1.02. The stock has a fifty day moving average price of $105.78 and a two-hundred day moving average price of $123.17. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. Sell-side analysts predict that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs declared that its board has approved a share buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Churchill Downs

A number of institutional investors have recently modified their holdings of CHDN. Vanguard Group Inc. lifted its position in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after purchasing an additional 107,737 shares during the period. FMR LLC lifted its holdings in shares of Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock worth $479,687,000 after acquiring an additional 214,694 shares during the period. Boston Partners boosted its position in shares of Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after acquiring an additional 366,283 shares in the last quarter. Schroder Investment Management Group increased its stake in Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after acquiring an additional 77,213 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Churchill Downs by 4.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company’s stock valued at $179,557,000 after purchasing an additional 59,657 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

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; casino gaming; and Terre Haute Casino Resort.