Churchill Downs (NASDAQ:CHDN) Given New $162.00 Price Target at Macquarie

Churchill Downs (NASDAQ:CHDN) had its price objective increased by Macquarie from $154.00 to $162.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on CHDN. Mizuho lifted their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an outperform rating in a research note on Friday. Truist Financial reiterated a buy rating and issued a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a report on Friday. Jefferies Financial Group raised their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, July 11th. JMP Securities boosted their price objective on shares of Churchill Downs from $158.00 to $166.00 and gave the company a market outperform rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an overweight rating in a report on Friday. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of Moderate Buy and a consensus price target of $155.60.

Churchill Downs Trading Up 1.7 %

Shares of CHDN stock opened at $145.00 on Friday. The stock’s 50-day moving average price is $137.69 and its 200-day moving average price is $128.28. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

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

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its stake in shares of Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after purchasing an additional 99 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after buying an additional 105 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after buying an additional 107 shares in the last quarter. M&T Bank Corp grew its position in shares of Churchill Downs by 5.2% in the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after buying an additional 118 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares in the last quarter. 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; and casino gaming.