Stifel Nicolaus Increases Churchill Downs (NASDAQ:CHDN) Price Target to $153.00

Churchill Downs (NASDAQ:CHDN) had its price objective raised by equities researchers at Stifel Nicolaus from $150.00 to $153.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 18.20% from the stock’s current price.

CHDN has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $137.00 to $141.00 in a research note on Monday, April 15th. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a research note on Wednesday, April 10th. Truist Financial upped their target price on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Mizuho increased their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Churchill Downs Stock Up 0.2 %

Shares of CHDN opened at $129.44 on Friday. The stock has a market capitalization of $9.51 billion, a PE ratio of 28.83, a P/E/G ratio of 9.00 and a beta of 1.03. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $150.45. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.53 and a current ratio of 0.50. The company’s 50-day simple moving average is $120.00 and its 200-day simple moving average is $120.82.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Analysts forecast that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky grew its holdings in Churchill Downs by 90.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock valued at $2,657,000 after buying an additional 10,868 shares during the period. Envestnet Asset Management Inc. grew its holdings in Churchill Downs by 34.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock valued at $17,178,000 after buying an additional 38,298 shares during the period. Fifth Third Bancorp grew its holdings in Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after buying an additional 189 shares during the period. Vanguard Group Inc. grew its holdings in Churchill Downs by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after buying an additional 56,318 shares during the period. Finally, Jennison Associates LLC grew its holdings in Churchill Downs by 28.9% in the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after buying an additional 179,814 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.