Churchill Downs (NASDAQ:CHDN) Price Target Raised to $145.00 at Truist Financial

Churchill Downs (NASDAQ:CHDN) had its price objective increased by equities researchers at Truist Financial from $140.00 to $145.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 11.32% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Mizuho lifted their target price on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Churchill Downs Price Performance

Shares of NASDAQ CHDN traded up $1.03 during trading hours on Friday, reaching $130.26. 204,329 shares of the stock traded hands, compared to its average volume of 383,696. The company’s 50-day simple moving average is $119.60 and its two-hundred day simple moving average is $120.58. The company has a market capitalization of $9.60 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 8.59 and a beta of 1.03. Churchill Downs has a 52-week low of $106.45 and a 52-week high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.33%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities research analysts forecast that Churchill Downs will post 5.48 EPS for the current year.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. purchased a new position in Churchill Downs in the 4th quarter valued at about $39,000. Vestor Capital LLC purchased a new position in shares of Churchill Downs during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC acquired a new stake in Churchill Downs during the fourth quarter worth approximately $66,000. Covestor Ltd grew its stake in Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the period. Finally, KBC Group NV acquired a new position in Churchill Downs in the 4th quarter valued at $149,000. 82.59% of the stock is currently owned by hedge funds and other 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.