Churchill Downs Inc. (CHDN) Stock Rating Reaffirmed by Imperial Capital
Churchill Downs Inc. (NASDAQ:CHDN)‘s stock had its “outperform” rating reissued by research analysts at Imperial Capital in a note issued to investors on Friday. They presently have a $165.00 target price on the stock, up from their previous target price of $145.00. Imperial Capital’s price target would suggest a potential upside of 15.96% from the stock’s current price.
Other analysts also recently issued reports about the stock. Gabelli raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised shares of Churchill Downs from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Telsey Advisory Group upped their price objective 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $162.17.
Churchill Downs (NASDAQ:CHDN) traded down 0.07% during midday trading on Friday, hitting $142.29. 78,579 shares of the stock traded hands. Churchill Downs has a 1-year low of $118.76 and a 1-year high of $152.98. The company has a 50-day moving average of $147.43 and a 200-day moving average of $137.51. The stock has a market cap of $2.35 billion, a PE ratio of 29.07 and a beta of 0.89.
Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Thursday, August 4th. The company reported $4.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.56 by $0.55. The company earned $438.50 million during 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%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.10 earnings per share. On average, equities analysts expect that Churchill Downs will post $5.94 EPS for the current fiscal year.
In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $150.00, for a total transaction of $750,000.00. Following the completion of the transaction, the director now directly owns 184,235 shares in the company, valued at approximately $27,635,250. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new position in Churchill Downs during the first quarter valued at approximately $104,000. BlackRock Inc. boosted its position 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 bought a new position in Churchill Downs during the second quarter valued at approximately $140,000. Genesee Valley Trust Co. bought a new position in Churchill Downs during the third quarter valued at approximately $200,000. Finally, Advantus Capital Management Inc bought a new position in Churchill Downs during the second quarter valued at approximately $184,000. 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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