Churchill Downs, Incorporated (NASDAQ:CHDN) Stock Has Average Target Price of $134.89 According to Brokerages

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $134.89.

Several equities research analysts have recently weighed in on CHDN shares. Citizens Jmp dropped their target price on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research report on Friday, July 31st. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Susquehanna increased their price target on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Wolfe Research initiated coverage on Churchill Downs in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price target for the company. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st.

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors have recently made changes to their positions in CHDN. BlackRock Inc. bought a new position in Churchill Downs during the second quarter worth $555,948,000. Arrowstreet Capital Limited Partnership increased its stake in Churchill Downs by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after purchasing an additional 7,687 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after purchasing an additional 494,553 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $92,340,000. Finally, GW&K Investment Management LLC lifted its position in shares of Churchill Downs by 12.7% in the 4th quarter. GW&K Investment Management LLC now owns 682,196 shares of the company’s stock worth $77,621,000 after buying an additional 76,703 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

Churchill Downs stock opened at $79.96 on Wednesday. Churchill Downs has a 52 week low of $73.08 and a 52 week high of $118.35. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a market cap of $5.57 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. The stock has a 50 day moving average of $84.28 and a 200-day moving average of $86.90.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.45. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.10 earnings per share. On average, analysts expect that Churchill Downs will post 7.14 EPS for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.