Churchill Downs (NASDAQ:CHDN) Rating Reiterated by Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN)‘s stock had its “equal weight” rating restated by investment analysts at Wells Fargo & Company in a research note issued on Tuesday, Benzinga reports. They currently have a $137.00 price target on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.36% from the stock’s current price.

Several other analysts have also recently commented on the company. Mizuho began coverage on Churchill Downs in a report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target for the company. JMP Securities raised their target price on Churchill Downs from $148.00 to $150.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Churchill Downs Stock Down 1.5 %

Shares of Churchill Downs stock opened at $123.02 on Tuesday. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The company has a market cap of $9.07 billion, a P/E ratio of 22.55 and a beta of 1.03. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a fifty day moving average of $119.53 and a two-hundred day moving average of $120.01.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The firm had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts forecast that Churchill Downs will post 5.44 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently made changes to their positions in the business. Castleview Partners LLC acquired a new position in Churchill Downs during the second quarter worth about $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Churchill Downs in the 4th quarter valued at approximately $39,000. Vestor Capital LLC acquired a new stake in Churchill Downs during the 4th quarter valued at $45,000. Belpointe Asset Management LLC grew its holdings in Churchill Downs by 181.3% during the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after buying an additional 145 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Churchill Downs by 174.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after buying an additional 180 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other 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; and casino gaming.