Churchill Downs (NASDAQ:CHDN) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Churchill Downs (NASDAQ:CHDN) in a report published on Friday, Benzinga reports. The firm currently has a $166.00 target price on the stock, up from their prior target price of $165.00.

Several other research analysts also recently weighed in on the stock. JMP Securities upped their target price on shares of Churchill Downs from $156.00 to $158.00 and gave the company a market outperform rating in a research note on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the company an overweight rating in a research report on Friday. StockNews.com lowered Churchill Downs from a hold rating to a sell rating in a research report on Thursday, July 25th. Jefferies Financial Group boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Finally, Mizuho raised their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and ten have assigned 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 Trading Up 1.7 %

Shares of CHDN opened at $145.00 on Friday. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The stock’s 50-day moving average is $137.69 and its two-hundred day moving average is $128.28. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $10.66 billion, a PE ratio of 32.29, a P/E/G ratio of 3.15 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the previous year, the company posted $2.24 EPS. Churchill Downs’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts forecast 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. lifted its holdings in Churchill Downs by 59.8% during the 1st 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 last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Churchill Downs during the 4th quarter valued at approximately $39,000. Vestor Capital LLC bought a new position in Churchill Downs during the fourth quarter worth $45,000. Central Pacific Bank Trust Division acquired a new position in Churchill Downs in the first quarter worth $44,000. Finally, CWM LLC increased its stake in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

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.