Analysts Set Churchill Downs Incorporated (NASDAQ:CHDN) Price Target at $155.60

Churchill Downs Incorporated (NASDAQ:CHDN) has earned an average rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $157.11.

Several brokerages recently issued reports on CHDN. JMP Securities upped their price objective on shares of Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Macquarie increased their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. 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 research note on Friday, July 26th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday.

Churchill Downs Stock Down 3.3 %

Shares of NASDAQ CHDN opened at $135.36 on Monday. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64. The stock has a market cap of $9.95 billion, a PE ratio of 30.15, a P/E/G ratio of 2.40 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. The company has a 50-day moving average of $138.15 and a 200 day moving average of $128.68.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the prior year, the company earned $2.24 EPS. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Churchill Downs will post 6.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several large investors have recently made changes to their positions in CHDN. Norges Bank acquired a new position in shares of Churchill Downs in the 4th quarter worth approximately $94,137,000. Boston Partners lifted its holdings in Churchill Downs by 98.1% during the 4th quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after buying an additional 401,319 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Churchill Downs during the 2nd quarter worth approximately $26,384,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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.