Churchill Downs, Incorporated (CHDN) Price Target Raised to $209.00
Churchill Downs, Incorporated (NASDAQ:CHDN) had its price target raised by equities research analysts at Telsey Advisory Group from $196.00 to $209.00 in a research report issued to clients and investors on Thursday. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 0.53% from the company’s current price.
Several other analysts have also issued reports on CHDN. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Churchill Downs, from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Imperial Capital boosted their target price on shares of Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Churchill Downs, presently has a consensus rating of “Hold” and an average target price of $210.67.
Churchill Downs, (CHDN) opened at 207.90 on Thursday. The company has a market capitalization of $3.35 billion, a P/E ratio of 28.41 and a beta of 0.86. Churchill Downs, has a 12-month low of $131.70 and a 12-month high of $209.05. The company has a 50-day moving average of $200.85 and a 200 day moving average of $181.69.
Churchill Downs, (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.30. The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.11 earnings per share. Equities research analysts forecast that Churchill Downs, will post $6.75 earnings per share for the current fiscal year.
In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $195.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director now owns 95,878 shares in the company, valued at $18,696,210. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.44% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Keybank National Association OH boosted its position in shares of Churchill Downs, by 20.0% during the second quarter. Keybank National Association OH now owns 7,800 shares of the company’s stock worth $1,430,000 after acquiring an additional 1,300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Churchill Downs, by 127.2% during the second quarter. BNP Paribas Arbitrage SA now owns 6,517 shares of the company’s stock worth $1,195,000 after acquiring an additional 3,649 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Churchill Downs, during the second quarter worth $207,000. Schwab Charles Investment Management Inc. boosted its position in shares of Churchill Downs, by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 64,817 shares of the company’s stock worth $10,297,000 after acquiring an additional 4,227 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Churchill Downs, by 32.5% during the first quarter. Legal & General Group Plc now owns 8,417 shares of the company’s stock worth $1,336,000 after acquiring an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 73.84% of the company’s stock.
Churchill Downs, Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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