Mizuho Begins Coverage on Churchill Downs (NASDAQ:CHDN)

Mizuho began coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $142.00 price objective on the stock.

A number of other analysts have also recently commented on the company. Wells Fargo & Company cut Churchill Downs from an overweight rating to an equal weight rating and upped their price target for the stock from $135.00 to $137.00 in a research report on Friday, January 5th. JMP Securities upped their price target on shares of Churchill Downs from $148.00 to $150.00 and gave the stock a market outperform rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $142.63.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $123.75 on Tuesday. The stock’s 50-day simple moving average is $119.50 and its two-hundred day simple moving average is $119.75. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 22.69 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. During the same period in the previous year, the business earned $0.73 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. Research analysts forecast that Churchill Downs will post 5.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHDN. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Churchill Downs by 90.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after buying an additional 10,868 shares during the last quarter. Credit Suisse AG raised its position in Churchill Downs by 140.6% during the second quarter. Credit Suisse AG now owns 77,126 shares of the company’s stock valued at $10,734,000 after purchasing an additional 45,074 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Churchill Downs by 34.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after purchasing an additional 38,298 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Churchill Downs by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after purchasing an additional 56,318 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Churchill Downs by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

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.