Churchill Downs Incorporated (NASDAQ:CHDN) Receives $159.38 Consensus Target Price from Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $159.38.

CHDN has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Mizuho cut their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus cut their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHDN. Atria Investments Inc boosted its position in Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares during the period. Venturi Wealth Management LLC boosted its position in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after buying an additional 90 shares during the period. Versor Investments LP acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at $473,000. WCM Investment Management LLC acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at $15,231,000. Finally, Winslow Asset Management Inc. raised its holdings in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 1.0 %

Shares of CHDN opened at $111.63 on Tuesday. Churchill Downs has a 52-week low of $105.18 and a 52-week high of $150.21. The company has a market capitalization of $8.21 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The stock has a fifty day simple moving average of $120.55 and a two-hundred day simple moving average of $131.88. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. As a group, equities analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Churchill Downs declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.