By otakuyassine3@gmail.com 
Churchill Downs Incorporated (NASDAQ:CHDN – Get Free Report) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $159.38.
CHDN has been the subject of a number of research analyst reports. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Stifel Nicolaus decreased their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Mizuho reduced their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th.
View Our Latest Research Report on Churchill Downs
Churchill Downs Trading Up 2.7 %
NASDAQ:CHDN opened at $110.50 on Tuesday. The stock has a fifty day moving average price of $120.98 and a two-hundred day moving average price of $132.12. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs has a 1 year low of $105.18 and a 1 year high of $150.21.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. As a group, sell-side analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current fiscal year.
Churchill Downs announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Institutional Investors Weigh In On Churchill Downs
A number of institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its position in Churchill Downs by 22.1% during the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock valued at $3,958,000 after purchasing an additional 5,372 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Churchill Downs by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock worth $80,839,000 after acquiring an additional 10,153 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Churchill Downs in the third quarter valued at $516,000. Finally, Atria Investments Inc lifted its holdings in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares during the period. 82.59% of the stock is currently owned by institutional investors.
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: 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.
Read More
Receive News & Ratings for Churchill Downs Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Churchill Downs and related companies with MarketBeat.com’s FREE daily email newsletter.