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

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $139.00.

Several equities research analysts have recently commented on the company. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Mizuho boosted their price objective on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently modified their holdings of CHDN. AQR Capital Management LLC increased its holdings in shares of Churchill Downs by 29.8% during the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after acquiring an additional 784 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Churchill Downs by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after buying an additional 121,204 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Churchill Downs by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock worth $25,080,000 after buying an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Churchill Downs during the second quarter worth $229,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $86.00 on Thursday. Churchill Downs has a 52-week low of $80.24 and a 52-week high of $118.46. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average price is $89.63 and its two-hundred day moving average price is $97.56. The firm has a market cap of $5.99 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.58 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data 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 the consensus estimate of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Churchill Downs will post 7.32 EPS for the current year.

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.