Churchill Downs Inc. (CHDN) Receives $161.20 Consensus Target Price from Brokerages
Churchill Downs Inc. (NASDAQ:CHDN) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $161.20.
Several research firms have recently issued reports on CHDN. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price objective for the company. Zacks Investment Research cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Monday, October 10th. Imperial Capital reiterated an “outperform” rating and issued a $165.00 price objective (up from $145.00) on shares of Churchill Downs in a report on Friday. Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, Telsey Advisory Group increased their price objective on shares of Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Friday, August 5th.
In related news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the sale, the director now directly owns 194,235 shares in the company, valued at $28,649,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.05% of the company’s stock.
A number of hedge funds have recently modified their holdings of CHDN. Genesee Valley Trust Co. acquired a new stake in shares of Churchill Downs during the third quarter worth $200,000. Oregon Public Employees Retirement Fund purchased a new position in Churchill Downs during the third quarter worth approximately $517,000. Park National Corp OH purchased a new position in Churchill Downs during the third quarter worth approximately $220,000. Northwestern Mutual Investment Management Company LLC purchased a new position in Churchill Downs during the second quarter worth approximately $262,000. Finally, Mason Street Advisors LLC purchased a new position in Churchill Downs during the second quarter worth approximately $690,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
Churchill Downs (NASDAQ:CHDN) opened at 142.29 on Friday. The firm has a market capitalization of $2.35 billion, a P/E ratio of 29.07 and a beta of 0.89. The firm has a 50-day moving average price of $147.43 and a 200 day moving average price of $137.51. Churchill Downs has a one year low of $118.76 and a one year high of $152.98.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.55. The business earned $438.50 million during the quarter, compared to analysts’ expectations of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.10 earnings per share. Equities research analysts anticipate that Churchill Downs will post $5.94 earnings per share for the current year.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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