Churchill Downs (NASDAQ:CHDN) Given New $145.00 Price Target at Truist Financial

Churchill Downs (NASDAQ:CHDN) had its price target hoisted by Truist Financial from $140.00 to $145.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

CHDN has been the subject of a number of other reports. Wells Fargo & Company upgraded Churchill Downs from an equal weight rating to an overweight rating and raised their price target for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Mizuho raised their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research note on Friday. Finally, JMP Securities restated a market outperform rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $144.50.

Churchill Downs Stock Performance

Shares of CHDN opened at $130.14 on Friday. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 9.01 and a beta of 1.03. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45. The firm has a fifty day simple moving average of $120.22 and a 200 day simple moving average of $121.02. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The company 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 44.99%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Research analysts forecast that Churchill Downs will post 5.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHDN. UMB Bank n.a. raised its stake in Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after acquiring an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Churchill Downs in the fourth quarter valued at about $39,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth about $45,000. GAMMA Investing LLC bought a new stake in shares of Churchill Downs during the 4th quarter worth about $66,000. Finally, Covestor Ltd boosted its holdings in shares of Churchill Downs by 44.0% during the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after buying an additional 259 shares during the period. 82.59% of the stock is currently owned by 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.