Churchill Downs, Incorporated (NASDAQ:CHDN) Receives $139.09 Consensus PT from Brokerages

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eleven analysts that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $139.09.

CHDN has been the subject of several recent research reports. JMP Securities decreased their price target on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Mizuho reduced their price objective on Churchill Downs from $137.00 to $134.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Susquehanna lowered their price objective on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group dropped their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Macquarie lowered their price objective on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th.

Insider Buying and Selling at Churchill Downs

In other news, Director R Alex Rankin purchased 2,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $92.65 per share, with a total value of $185,300.00. Following the transaction, the director directly owned 99,012 shares of the company's stock, valued at approximately $9,173,461.80. This represents a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas C. Grissom bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $92.77 per share, with a total value of $927,700.00. Following the acquisition, the director owned 38,869 shares of the company's stock, valued at $3,605,877.13. This represents a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.34% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Utah Retirement Systems raised its holdings in Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after buying an additional 100 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Churchill Downs by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock valued at $360,000 after acquiring an additional 130 shares in the last quarter. Aristides Capital LLC boosted its stake in Churchill Downs by 5.7% during the 1st quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock valued at $273,000 after purchasing an additional 132 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Churchill Downs by 0.3% in the 1st quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock worth $4,925,000 after purchasing an additional 138 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 1.0%

CHDN stock traded up $1.09 during midday trading on Monday, reaching $106.89. 455,708 shares of the company's stock traded hands, compared to its average volume of 740,766. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. The firm's fifty day moving average price is $98.37 and its 200-day moving average price is $109.05. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 3.02 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $642.60 million during the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. Churchill Downs's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

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.