Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $160.50.

Several research analysts have recently weighed in on CHDN shares. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Mizuho lowered their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th.

Churchill Downs Stock Down 0.4 %

Shares of CHDN stock opened at $121.58 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 22.15, a PEG ratio of 3.05 and a beta of 0.95. The firm’s fifty day moving average price is $128.06 and its two-hundred day moving average price is $134.89. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a $0.409 dividend. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.47%.

Institutional Trading of Churchill Downs

A number of institutional investors have recently bought and sold shares of CHDN. Norges Bank bought a new stake in Churchill Downs in the 4th quarter valued at about $74,967,000. Westfield Capital Management Co. LP boosted its holdings in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after purchasing an additional 381,754 shares during the period. Boston Partners boosted its holdings in Churchill Downs by 25.6% in the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the period. FMR LLC boosted its holdings in Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after purchasing an additional 214,694 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Churchill Downs by 97.9% in the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company’s stock valued at $57,578,000 after purchasing an additional 213,311 shares during the period. Institutional investors own 82.59% of the company’s stock.

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; casino gaming; and Terre Haute Casino Resort.