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

Churchill Downs (NASDAQ:CHDN) had its price target increased by Stifel Nicolaus from $150.00 to $153.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on CHDN. JMP Securities reissued a market outperform rating and set a $150.00 price target on shares of Churchill Downs in a research note on Wednesday, April 10th. Wells Fargo & Company raised Churchill Downs from an equal weight rating to an overweight rating and raised their price objective for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Truist Financial raised their price objective on Churchill Downs from $140.00 to $145.00 and gave the company a buy rating in a research note on Friday. Finally, Mizuho raised their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research note on Friday. One research 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.com, the company presently has a consensus rating of Moderate Buy and an average price target of $144.50.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $129.44 on Friday. The stock has a 50 day moving average of $120.00 and a 200 day moving average of $120.87. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45. The firm has a market cap of $9.51 billion, a PE ratio of 28.83, a PEG ratio of 9.01 and a beta of 1.03. The company has a current ratio of 0.50, a quick ratio of 0.53 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. During the same period in the prior year, the company earned $0.98 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Churchill Downs will post 5.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors raised its holdings in shares of Churchill Downs by 0.5% in the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after buying an additional 35,337 shares during the period. Vanguard Group Inc. raised its holdings in shares of Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares during the period. Capital International Investors raised its holdings in shares of Churchill Downs by 6.1% in the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock worth $321,508,000 after buying an additional 136,197 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Churchill Downs by 8.3% in the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after buying an additional 83,214 shares during the period. Finally, Boston Partners increased its holdings in Churchill Downs by 98.1% during the 4th quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after purchasing an additional 401,319 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

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.