Analysts Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $156.90

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been assigned a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $156.90.

Several equities research analysts have weighed in on CHDN shares. Truist Financial reissued a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Macquarie lifted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Mizuho upped their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

Churchill Downs Trading Down 2.1 %

NASDAQ CHDN opened at $137.68 on Tuesday. The firm has a market cap of $10.12 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $146.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The company has a 50 day moving average price of $138.60 and a 200 day moving average price of $132.73.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The business had revenue of $890.70 million for the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.24 earnings per share. As a group, sell-side analysts forecast that Churchill Downs will post 6.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently modified their holdings of CHDN. Jennison Associates LLC boosted its holdings in Churchill Downs by 5.6% during the first quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after buying an additional 44,773 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Churchill Downs by 12.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after acquiring an additional 47,269 shares in the last quarter. Capital Research Global Investors grew its position in shares of Churchill Downs by 0.5% during the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after acquiring an additional 35,337 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after acquiring an additional 246,769 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Churchill Downs by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock valued at $20,425,000 after purchasing an additional 9,354 shares in the last quarter. Institutional investors and hedge funds 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.