Analysts Set Churchill Downs, Incorporated (NASDAQ:CHDN) Target Price at $134.89

Churchill Downs, Incorporated (NASDAQ:CHDN) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $134.8889.

Several equities research analysts recently weighed in on CHDN shares. Wells Fargo & Company decreased their price objective on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Weiss Ratings raised shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Citizens Jmp cut their target price on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research report on Friday, July 31st. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Finally, Mizuho boosted their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd.

Institutional Investors Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently bought and sold shares of CHDN. BlackRock Inc. bought a new stake in shares of Churchill Downs during the 2nd quarter valued at $555,948,000. Arrowstreet Capital Limited Partnership boosted its stake in Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after purchasing an additional 7,687 shares during the period. Geode Capital Management LLC boosted its stake in Churchill Downs by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares during the period. William Blair Investment Management LLC grew its holdings in Churchill Downs by 12.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,145,413 shares of the company’s stock valued at $130,325,000 after buying an additional 127,687 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Churchill Downs by 94.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after buying an additional 494,553 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $81.91 on Friday. The stock has a fifty day simple moving average of $86.47 and a two-hundred day simple moving average of $87.89. Churchill Downs has a 1-year low of $79.40 and a 1-year high of $118.35. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.78 and a beta of 0.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same period in the previous year, the company posted $3.10 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Churchill Downs will post 7.14 earnings per share for the current year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, entertainment and racing company headquartered in Louisville, Kentucky. The company owns and operates Churchill Downs Racetrack, home of the Kentucky Derby, as well as other thoroughbred racing venues, casinos, racinos and historical horse racing facilities.

Its operations include live and historical horse racing, casino gaming, video lottery and other gaming activities, hospitality, dining and entertainment. Through its TwinSpires business, Churchill Downs also provides online horse-racing wagering and related digital betting services in jurisdictions where such activities are permitted.

Founded in 1875, Churchill Downs has expanded from its namesake racetrack into a diversified gaming and entertainment company.