JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs Inc. (NASDAQ:CHDN) in a research report report published on Thursday. The firm issued a neutral rating and a $160.00 target price on the stock.
Several other brokerages also recently issued reports on CHDN. Zacks Investment Research downgraded shares of Churchill Downs from a strong-buy rating to a hold rating in a research note on Tuesday, August 9th. Gabelli upgraded shares of Churchill Downs from a hold rating to a buy rating in a research note on Friday, August 5th. Finally, Telsey Advisory Group lifted their price target on shares of Churchill Downs from $173.00 to $176.00 and gave the stock an outperform rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $160.80.
Churchill Downs (NASDAQ:CHDN) opened at 146.97 on Thursday. The company has a 50-day moving average of $148.23 and a 200-day moving average of $137.19. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 30.03 and a beta of 0.95. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.98.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.55. The business had revenue of $438.50 million for the quarter, compared to the consensus estimate of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. Churchill Downs’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $3.10 earnings per share. Analysts predict 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 Churchill Downs stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $148.75, for a total transaction of $743,750.00. Following the completion of the transaction, the director now directly owns 189,235 shares of the company’s stock, valued at $28,148,706.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.05% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CHDN. Acrospire Investment Management LLC bought a new position in shares of Churchill Downs during the first quarter worth about $104,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Churchill Downs by 0.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 773 shares of the company’s stock worth $114,000 after buying an additional 5 shares during the last quarter. BlackRock Inc. boosted its position in shares of Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock worth $133,000 after buying an additional 501 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of Churchill Downs during the second quarter worth about $140,000. Finally, Advantus Capital Management Inc bought a new position in shares of Churchill Downs during the second quarter worth about $184,000. 72.12% of the stock is owned by institutional investors.
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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