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

Churchill Downs, Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $135.3636.

Several equities analysts have recently issued reports on the company. Susquehanna reiterated a “positive” rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Macquarie reiterated an “outperform” rating and issued a $155.00 price target on shares of Churchill Downs in a research report on Friday, October 24th. Wells Fargo & Company restated an “overweight” rating and set a $125.00 price objective (up previously from $115.00) on shares of Churchill Downs in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Churchill Downs by 5.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,561 shares of the company’s stock worth $1,875,000 after purchasing an additional 990 shares in the last quarter. Norges Bank acquired a new position in Churchill Downs in the 2nd quarter valued at approximately $43,935,000. Signaturefd LLC lifted its position in Churchill Downs by 161.1% in the 2nd quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after buying an additional 203 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Churchill Downs during the 2nd quarter valued at $593,000. Finally, AlphaQuest LLC boosted its stake in shares of Churchill Downs by 711.5% during the 3rd quarter. AlphaQuest LLC now owns 37,670 shares of the company’s stock valued at $3,654,000 after buying an additional 33,028 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.4%

Shares of Churchill Downs stock opened at $94.17 on Friday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.42 and a beta of 0.67. Churchill Downs has a twelve month low of $85.58 and a twelve month high of $125.87. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. The business’s 50 day simple moving average is $109.58 and its 200-day simple moving average is $103.52.

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.