Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $135.3636.

Several equities analysts have weighed in on CHDN shares. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Macquarie reissued an “outperform” rating and set a $155.00 target price on shares of Churchill Downs in a research note on Friday, October 24th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th.

Institutional Trading of Churchill Downs

Several hedge funds have recently modified their holdings of the business. London Co. of Virginia boosted its position in Churchill Downs by 38.7% during the second quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after purchasing an additional 835,294 shares in the last quarter. AQR Capital Management LLC boosted its position in Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after acquiring an additional 784,591 shares during the last quarter. Jennison Associates LLC boosted its position in Churchill Downs by 52.3% during the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after acquiring an additional 500,395 shares during the last quarter. Alua Capital Management LP purchased a new stake in Churchill Downs in the 3rd quarter worth approximately $48,532,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Churchill Downs by 49.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after acquiring an additional 452,716 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $97.93 on Friday. The stock has a 50 day moving average of $110.22 and a two-hundred day moving average of $103.75. Churchill Downs has a 12 month low of $85.58 and a 12 month high of $126.60. The firm has a market cap of $6.83 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.