Analysts Set Churchill Downs, Incorporated (NASDAQ:CHDN) PT at $142.30

Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) has earned a consensus recommendation of "Buy" from the ten analysts that are covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $142.30.

Several analysts recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Barclays cut their target price on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, JMP Securities cut their target price on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th.

Churchill Downs Stock Performance

Shares of CHDN stock traded up $0.62 during trading hours on Thursday, reaching $98.92. The company had a trading volume of 552,428 shares, compared to its average volume of 588,620. The business has a fifty day moving average price of $96.51 and a 200-day moving average price of $113.32. Churchill Downs has a one year low of $85.58 and a one year high of $150.21. The firm has a market cap of $7.15 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.94. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.53 and a current ratio of 0.53.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $642.60 million for 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%. The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. Sell-side analysts predict that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at Churchill Downs

In related news, Director R Alex Rankin purchased 2,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas C. Grissom purchased 10,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the purchase, the director now owns 38,869 shares in the company, valued at approximately $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. 5.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Churchill Downs

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock valued at $909,183,000 after purchasing an additional 107,737 shares in the last quarter. FMR LLC raised its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after purchasing an additional 214,694 shares in the last quarter. Boston Partners raised its stake in Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after purchasing an additional 366,283 shares in the last quarter. Schroder Investment Management Group raised its stake in Churchill Downs by 5.4% during the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after purchasing an additional 77,213 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in Churchill Downs by 4.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock valued at $179,557,000 after purchasing an additional 59,657 shares in the last quarter. 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; casino gaming; and Terre Haute Casino Resort.