Churchill Downs, Incorporated (NASDAQ:CHDN) Given Consensus Recommendation of "Buy" by Brokerages

Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) has received an average rating of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $136.50.

Several research firms have issued reports on CHDN. Stifel Nicolaus upped their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JMP Securities lowered their target price on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price on the stock. Barclays upped their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Susquehanna upped their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHDN. Geneos Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 232 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Churchill Downs during the first quarter worth about $29,000. MAI Capital Management lifted its holdings in shares of Churchill Downs by 306.9% during the second quarter. MAI Capital Management now owns 293 shares of the company's stock worth $30,000 after purchasing an additional 221 shares during the period. Signaturefd LLC lifted its holdings in Churchill Downs by 161.1% in the second quarter. Signaturefd LLC now owns 329 shares of the company's stock valued at $33,000 after acquiring an additional 203 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after buying an additional 253 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Down 0.5%

Shares of CHDN stock traded down $0.48 during mid-day trading on Tuesday, reaching $101.59. 472,256 shares of the company's stock traded hands, compared to its average volume of 478,460. Churchill Downs has a 12 month low of $85.58 and a 12 month high of $150.21. The company has a market cap of $7.12 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.94 and a beta of 0.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The company's 50-day moving average price is $104.84 and its 200-day moving average price is $103.64.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.03 by $0.07. The firm had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.89 EPS. On average, equities analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

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; casino gaming; and Terre Haute Casino Resort.