Churchill Downs (NASDAQ:CHDN) Price Target Increased to $166.00 by Analysts at JMP Securities

Churchill Downs (NASDAQ:CHDN) had its price objective hoisted by JMP Securities from $158.00 to $166.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also commented on CHDN. Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Monday, July 22nd. Truist Financial reaffirmed a buy rating and set a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research note on Friday. Jefferies Financial Group lifted their target price on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Thursday, July 11th. Wells Fargo & Company upped their price target on Churchill Downs from $150.00 to $161.00 and gave the stock an overweight rating in a research note on Friday. Finally, StockNews.com cut shares of Churchill Downs from a hold rating to a sell rating in a research note on Thursday. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $155.60.

Churchill Downs Trading Up 3.3 %

NASDAQ:CHDN opened at $142.58 on Friday. The company has a market capitalization of $10.48 billion, a PE ratio of 31.76, a P/E/G ratio of 3.05 and a beta of 0.97. Churchill Downs has a 52-week low of $106.45 and a 52-week high of $146.64. The stock’s 50 day moving average price is $137.50 and its 200 day moving average price is $128.08. The company has a quick ratio of 0.50, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.18. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.24 earnings per share. On average, research analysts anticipate that Churchill Downs will post 6.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul C. Varga acquired 3,800 shares of Churchill Downs stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the purchase, the director now directly owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CHDN. Jennison Associates LLC grew its holdings in shares of Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after acquiring an additional 44,773 shares during the period. Barlow Wealth Partners Inc. purchased a new stake in Churchill Downs during the fourth quarter worth $20,669,000. Westfield Capital Management Co. LP grew its holdings in Churchill Downs by 12.6% in the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock valued at $52,411,000 after purchasing an additional 47,269 shares during the last quarter. Capital Research Global Investors increased its position 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 valued at $919,513,000 after buying an additional 35,337 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares during the last quarter. 82.59% of the stock is 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.