Churchill Downs, Incorporated (NASDAQ:CHDN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $135.00.

Several research analysts have commented on the company. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Wells Fargo & Company dropped their price target on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Finally, Citizens Jmp boosted their price objective on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $91.94 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 5.02. The business’s 50 day moving average is $89.48 and its two-hundred day moving average is $98.96. The company has a market cap of $6.41 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.49 and a beta of 0.65. Churchill Downs has a 12 month low of $80.24 and a 12 month high of $118.46.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The company had revenue of $665.90 million for the quarter, compared to the consensus estimate of $658.01 million. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, equities analysts expect that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $25,000. First Horizon Corp bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $26,000. Quent Capital LLC bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after purchasing an additional 284 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.