Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $138.50.

CHDN has been the subject of several research analyst reports. Weiss Ratings lowered Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Wells Fargo & Company cut their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Truist Financial set a $145.00 price objective on Churchill Downs in a research note on Friday, June 12th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently made changes to their positions in CHDN. Measured Wealth Private Client Group LLC bought a new position in shares of Churchill Downs in the third quarter valued at $25,000. Geneos Wealth Management Inc. boosted its position in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares during the period. Parkside Financial Bank & Trust grew its position in Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Up 2.0%

Shares of NASDAQ CHDN opened at $83.75 on Friday. The firm has a market cap of $5.84 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs has a 1 year low of $80.24 and a 1 year high of $118.46. The firm’s 50 day moving average price is $86.78 and its 200 day moving average price is $91.31.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, sell-side analysts anticipate that Churchill Downs will post 7.14 earnings per share for the current year.

About Churchill Downs

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.