Shares of Churchill Downs Inc. (NASDAQ:CHDN) have been assigned an average rating of “Buy” from the seven research firms that are currently covering the company. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $161.20.
A number of research firms have recently issued reports on CHDN. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a research report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price objective on the stock. Zacks Investment Research cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Monday, October 10th. Imperial Capital restated an “outperform” rating and issued a $165.00 target price (up previously from $145.00) on shares of Churchill Downs in a report on Friday, October 14th. Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, Telsey Advisory Group upped their target price on shares of Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Friday, August 5th.
Shares of Churchill Downs (NASDAQ:CHDN) opened at 141.03 on Friday. The stock’s 50 day moving average price is $147.07 and its 200-day moving average price is $137.36. The company has a market cap of $2.33 billion, a PE ratio of 28.82 and a beta of 0.89. Churchill Downs has a one year low of $118.76 and a one year high of $152.98.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.56 by $0.55. The company had revenue of $438.50 million for the quarter, compared to analysts’ expectations of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.10 EPS. On average, analysts expect that Churchill Downs will post $5.94 EPS for the current year.
In other Churchill Downs news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $148.75, for a total value of $743,750.00. Following the completion of the sale, the director now owns 189,235 shares in the company, valued at approximately $28,148,706.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 19.05% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. HBK Investments L P purchased a new stake in Churchill Downs during the first quarter valued at approximately $680,000. Nationwide Fund Advisors raised its stake in Churchill Downs by 255.2% in the second quarter. Nationwide Fund Advisors now owns 29,265 shares of the company’s stock valued at $3,698,000 after buying an additional 21,026 shares during the period. JPMorgan Chase & Co. raised its stake in Churchill Downs by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 115,019 shares of the company’s stock valued at $17,009,000 after buying an additional 4,895 shares during the period. Credit Agricole S A purchased a new stake in Churchill Downs during the first quarter valued at approximately $2,514,000. Finally, Bruderman Asset Management LLC purchased a new stake in Churchill Downs during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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