Churchill Downs (NASDAQ:CHDN) Rating Reiterated by JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $150.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 20.59% from the stock’s previous close.

CHDN has been the topic of a number of other reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $137.00 price target on shares of Churchill Downs in a report on Tuesday. Mizuho initiated coverage on shares of Churchill Downs in a research note on Tuesday, March 26th. They issued a “buy” rating and a $142.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.63.

Churchill Downs Price Performance

Churchill Downs stock opened at $124.39 on Wednesday. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $150.45. The company’s 50 day moving average price is $119.57 and its two-hundred day moving average price is $120.04. The stock has a market cap of $9.17 billion, a P/E ratio of 22.80 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

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. The business had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. On average, equities analysts predict that Churchill Downs will post 5.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after acquiring an additional 10,868 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after purchasing an additional 38,298 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 56,318 shares in the last quarter. Fifth Third Bancorp lifted its holdings in 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 purchasing an additional 189 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Churchill Downs by 5.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 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.