Imperial Capital reiterated their outperform rating on shares of Churchill Downs Inc. (NASDAQ:CHDN) in a research report released on Friday morning. The brokerage currently has a $165.00 price objective on the stock, up from their prior price objective of $145.00.
CHDN has been the subject of a number of other reports. Zacks Investment Research upgraded Churchill Downs from a strong sell rating to a hold rating in a report on Tuesday, July 12th. Telsey Advisory Group lifted their target price on Churchill Downs from $173.00 to $176.00 and gave the company an outperform rating in a report on Friday, August 5th. Gabelli upgraded Churchill Downs from a hold rating to a buy rating in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. began coverage on Churchill Downs in a report on Thursday, September 22nd. They set a neutral rating and a $160.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $162.17.
Churchill Downs (NASDAQ:CHDN) opened at 141.03 on Friday. Churchill Downs has a one year low of $118.76 and a one year high of $152.98. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 28.82 and a beta of 0.89. The stock has a 50 day moving average price of $147.07 and a 200-day moving average price of $137.36.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.55. The firm earned $438.50 million during the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. Churchill Downs’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $3.10 earnings per share. On average, analysts predict that Churchill Downs will post $5.94 earnings per share for the current fiscal year.
In other news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $150.00, for a total value of $750,000.00. Following the completion of the sale, the director now directly owns 184,235 shares of the company’s stock, valued at approximately $27,635,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.05% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new stake in Churchill Downs during the first quarter valued at $104,000. BlackRock Inc. increased its stake in Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock valued at $133,000 after buying an additional 501 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in Churchill Downs during the second quarter valued at $140,000. Advantus Capital Management Inc purchased a new stake in Churchill Downs during the second quarter valued at $184,000. Finally, Genesee Valley Trust Co. purchased a new stake in Churchill Downs during the third quarter valued at $200,000. 72.13% of the stock is owned by institutional investors and hedge funds.
Churchill Downs Company Profile
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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