JMP Securities Raises Churchill Downs (NASDAQ:CHDN) Price Target to $166.00

Churchill Downs (NASDAQ:CHDN) had its price objective lifted by JMP Securities from $158.00 to $166.00 in a report released on Friday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a report on Thursday, July 11th. Mizuho boosted their target price on Churchill Downs from $143.00 to $157.00 and gave the stock an outperform rating in a research report on Friday. Wells Fargo & Company increased their price target on Churchill Downs from $150.00 to $161.00 and gave the company an overweight rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, Truist Financial reaffirmed a buy rating and set a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a report on Friday. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $155.60.

Churchill Downs Stock Up 3.3 %

Shares of CHDN opened at $142.58 on Friday. The business’s 50 day moving average is $137.50 and its 200 day moving average is $128.13. The company has a current ratio of 0.57, a quick ratio of 0.50 and a debt-to-equity ratio of 4.65. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64. The company has a market capitalization of $10.48 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97.

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

Institutional Trading of Churchill Downs

Several hedge funds and other institutional investors have recently bought and sold shares of CHDN. UMB Bank n.a. boosted its stake in Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after buying an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Churchill Downs during the 4th quarter worth about $39,000. Vestor Capital LLC bought a new position in Churchill Downs during the 4th quarter valued at about $45,000. Central Pacific Bank Trust Division purchased a new stake in Churchill Downs in the 1st quarter worth about $44,000. Finally, CWM LLC lifted its stake in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other 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.