Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Rating of “Buy” by Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $143.13.

A number of analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Mizuho started coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. Finally, Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $137.00 to $141.00 in a report on Monday, April 15th.

Hedge Funds Weigh In On Churchill Downs

A number of large investors have recently bought and sold shares of CHDN. SeaCrest Wealth Management LLC raised its holdings in Churchill Downs by 13.9% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,454 shares of the company’s stock worth $285,000 after purchasing an additional 300 shares during the period. Independence Bank of Kentucky raised its holdings in Churchill Downs by 11,240.0% in the 3rd quarter. Independence Bank of Kentucky now owns 5,670 shares of the company’s stock worth $658,000 after purchasing an additional 5,620 shares during the period. Community Trust & Investment Co. raised its holdings in Churchill Downs by 57.6% in the 3rd quarter. Community Trust & Investment Co. now owns 108,808 shares of the company’s stock worth $12,626,000 after purchasing an additional 39,754 shares during the period. Meridian Wealth Management LLC raised its holdings in Churchill Downs by 103.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 5,960 shares of the company’s stock worth $692,000 after purchasing an additional 3,034 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Churchill Downs by 13.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 43,390 shares of the company’s stock worth $5,035,000 after buying an additional 5,074 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Down 0.1 %

Shares of CHDN stock opened at $123.39 on Friday. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45. The stock’s fifty day moving average price is $119.55 and its 200 day moving average price is $120.56. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 8.41 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year. On average, research analysts expect that Churchill Downs will post 5.48 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: 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; and casino gaming.