Analysts Set Churchill Downs Incorporated (NASDAQ:CHDN) Target Price at $200.80


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Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have earned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $200.80.

Several brokerages have recently weighed in on CHDN. Zacks Investment Research upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th. Bank of America started coverage on Churchill Downs in a research note on Monday, January 4th. They issued a “buy” rating and a $235.00 target price for the company. Finally, KeyCorp upped their price target on Churchill Downs from $239.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, March 8th.

Shares of CHDN opened at $208.76 on Friday. The firm has a market cap of $8.04 billion, a PE ratio of -86.62 and a beta of 1.37. The stock’s fifty day moving average price is $225.71 and its two-hundred day moving average price is $205.85. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.71 and a quick ratio of 1.71. Churchill Downs has a 1 year low of $89.29 and a 1 year high of $258.32.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Tuesday, April 20th. The company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.31. The company had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $290.95 million. Churchill Downs had a positive return on equity of 11.09% and a negative net margin of 8.99%. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. Sell-side analysts anticipate that Churchill Downs will post 0.61 earnings per share for the current fiscal year.

In other news, SVP Austin W. Miller sold 400 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $225.47, for a total value of $90,188.00. Following the completion of the transaction, the senior vice president now owns 30,951 shares of the company’s stock, valued at approximately $6,978,521.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Marshall Wace North America L.P. grew its stake in shares of Churchill Downs by 200.0% in the 1st quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after buying an additional 520 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Churchill Downs by 290.7% in the 1st quarter. First Trust Advisors LP now owns 16,361 shares of the company’s stock worth $1,477,000 after buying an additional 12,173 shares during the last quarter. Westover Capital Advisors LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter worth approximately $212,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Churchill Downs by 4.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 14,160 shares of the company’s stock worth $2,320,000 after buying an additional 663 shares during the last quarter. Finally, Brinker Capital Investments LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter worth approximately $1,812,000. 73.01% 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: Churchill Downs, Online Wagering, and Gaming. As of March 18, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; seven retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Analyst Recommendations for Churchill Downs (NASDAQ:CHDN)

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