Stifel Nicolaus Raises Churchill Downs (NASDAQ:CHDN) Price Target to $133.00

Churchill Downs (NASDAQ:CHDN - Free Report) had its price target lifted by Stifel Nicolaus from $130.00 to $133.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Truist Financial decreased their target price on Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays decreased their target price on 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 raised Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Susquehanna decreased their target price on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Macquarie cut their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of "Moderate Buy" and an average target price of $139.09.

Churchill Downs Stock Down 0.9%

NASDAQ CHDN traded down $1.00 on Friday, reaching $105.80. The company had a trading volume of 484,342 shares, compared to its average volume of 590,629. The stock has a market capitalization of $7.64 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.05 and a beta of 0.95. The company's fifty day moving average is $98.37 and its 200 day moving average is $109.37. Churchill Downs has a 52-week low of $85.58 and a 52-week high of $150.21. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49.

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). Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The business 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 business earned $1.13 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director R Alex Rankin acquired 2,000 shares of Churchill Downs stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the completion of the transaction, the director owned 99,012 shares in the company, valued at $9,173,461.80. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas C. Grissom purchased 10,000 shares of Churchill Downs stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $92.77 per share, with a total value of $927,700.00. Following the transaction, the director owned 38,869 shares of the company's stock, 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

Several institutional investors have recently made changes to their positions in the business. Utah Retirement Systems grew its position in shares of Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after purchasing an additional 100 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after buying an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Churchill Downs by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock valued at $360,000 after buying an additional 130 shares during the last quarter. Aristides Capital LLC boosted its stake in Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock valued at $273,000 after buying an additional 132 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock valued at $4,925,000 after buying an additional 138 shares during 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.