Analysts Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $142.90

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has earned an average rating of "Buy" from the ten analysts that are currently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $142.30.

Several research firms have recently weighed in on CHDN. Mizuho decreased their target price on Churchill Downs from $137.00 to $134.00 and set an "outperform" rating for the company in a research report on Friday. Macquarie decreased their price objective on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Susquehanna reduced their target price 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. Finally, Stifel Nicolaus decreased their price target on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th.

Insiders Place Their Bets

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

Institutional Trading of Churchill Downs

A number of institutional investors have recently modified their holdings of CHDN. Vanguard Group Inc. raised its stake in shares of Churchill Downs by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after acquiring an additional 107,737 shares in the last quarter. FMR LLC boosted its stake in Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after acquiring an additional 214,694 shares in the last quarter. Boston Partners grew its holdings in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Schroder Investment Management Group grew its holdings in Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock worth $201,223,000 after purchasing an additional 77,213 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of Churchill Downs by 4.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock worth $179,557,000 after purchasing an additional 59,657 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Trading Up 1.4%

CHDN stock traded up $1.30 during midday trading on Friday, reaching $94.54. 719,491 shares of the company traded hands, compared to its average volume of 567,419. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 2.95 and a beta of 1.02. Churchill Downs has a 52-week low of $85.58 and a 52-week high of $150.21. The business has a 50 day moving average of $100.36 and a 200-day moving average of $118.14. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $642.60 million for the quarter, compared to analysts' expectations of $649.68 million. During the same period in the prior year, the firm posted $1.13 earnings per share. Churchill Downs's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. Churchill Downs's payout ratio is 7.12%.

Churchill Downs declared that its Board of Directors has approved a share repurchase program 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 programs are typically a sign that the company's leadership believes its stock is undervalued.

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.