Churchill Downs (NASDAQ:CHDN) PT Raised to $145.00

Churchill Downs (NASDAQ:CHDN) had its target price increased by analysts at Truist Financial from $140.00 to $145.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 12.02% from the company’s previous close.

CHDN has been the subject of several other research reports. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $137.00 to $141.00 in a research note on Monday, April 15th. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a research note on Wednesday, April 10th. Finally, Mizuho boosted their target price on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $144.50.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $129.44 on Friday. The business has a 50-day moving average of $120.00 and a 200 day moving average of $120.82. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 9.00 and a beta of 1.03. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.53.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Churchill Downs will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its stake in Churchill Downs by 90.3% during the third 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 last quarter. Envestnet Asset Management Inc. increased its stake in Churchill Downs by 34.9% during the third quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after acquiring an additional 38,298 shares during the last quarter. Fifth Third Bancorp increased its stake in Churchill Downs by 15.1% during the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares during the last quarter. Vanguard Group Inc. increased its stake in Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after acquiring an additional 56,318 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Churchill Downs by 28.9% during the fourth quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock worth $108,359,000 after acquiring an additional 179,814 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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.