Stifel Nicolaus Raises Churchill Downs (NASDAQ:CHDN) Price Target to $153.00

Churchill Downs (NASDAQ:CHDN) had its price target raised by stock analysts at Stifel Nicolaus from $150.00 to $153.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 17.46% from the stock’s previous close.

A number of other analysts have also commented on the company. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Mizuho lifted their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Truist Financial lifted their price target on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Price Performance

Shares of Churchill Downs stock traded up $1.03 during midday trading on Friday, hitting $130.26. 204,329 shares of the company traded hands, compared to its average volume of 383,696. The firm’s fifty day moving average price is $119.60 and its 200-day moving average price is $120.58. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 8.59 and a beta of 1.03. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.33%. The firm had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Churchill Downs will post 5.48 earnings per share for the current year.

Institutional Trading of Churchill Downs

Institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Churchill Downs by 90.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock valued at $2,657,000 after purchasing an additional 10,868 shares during the period. Envestnet Asset Management Inc. lifted its stake in Churchill Downs by 34.9% in the third quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after buying an additional 38,298 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after buying an additional 189 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Churchill Downs by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after buying an additional 56,318 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Churchill Downs by 28.9% in the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after acquiring an additional 179,814 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

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; and casino gaming.