Brokerages Set Churchill Downs Inc. (CHDN) Price Target at $161.20
Shares of Churchill Downs Inc. (NASDAQ:CHDN) have earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $161.20.
Several analysts have issued reports on the company. Zacks Investment Research raised Churchill Downs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Telsey Advisory Group lifted their price target on Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price target on the stock. Finally, Imperial Capital reissued an “outperform” rating and issued a $165.00 price target (up previously from $145.00) on shares of Churchill Downs in a research note on Friday, October 14th.
Shares of Churchill Downs (NASDAQ:CHDN) opened at 141.03 on Friday. The company has a market cap of $2.33 billion, a P/E ratio of 28.82 and a beta of 0.89. The company’s 50-day moving average price is $147.07 and its 200 day moving average price is $137.36. Churchill Downs has a 52 week low of $118.76 and a 52 week high of $152.98.
Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Thursday, August 4th. The company reported $4.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.56 by $0.55. The firm had revenue of $438.50 million for 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%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.10 earnings per share. On average, equities analysts forecast 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 Churchill Downs 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 sale, the director now owns 184,235 shares of the company’s stock, valued at $27,635,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.05% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Churchill Downs by 2.6% in the second quarter. Vanguard Group Inc. now owns 974,597 shares of the company’s stock worth $123,151,000 after buying an additional 24,806 shares in the last quarter. BlackRock Fund Advisors increased its stake in Churchill Downs by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock worth $80,715,000 after buying an additional 334,299 shares in the last quarter. State Street Corp increased its stake in Churchill Downs by 75.4% in the second quarter. State Street Corp now owns 404,048 shares of the company’s stock worth $51,054,000 after buying an additional 173,700 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Churchill Downs by 19.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 369,411 shares of the company’s stock worth $46,679,000 after buying an additional 61,191 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Churchill Downs by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 214,939 shares of the company’s stock worth $27,160,000 after buying an additional 72,980 shares in the last quarter. 72.13% of the stock is currently owned by institutional investors and hedge funds.
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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