Churchill Downs (NASDAQ:CHDN) Price Target Raised to $126.00

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its target price hoisted by research analysts at Susquehanna from $121.00 to $126.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's price objective would suggest a potential upside of 10.98% from the company's current price.

A number of other brokerages also recently commented on CHDN. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective on the stock. Mizuho upped their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. JMP Securities lowered 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 report on Tuesday, May 27th. Finally, Macquarie lowered their target price 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.09.

Churchill Downs Trading Down 0.2%

Shares of CHDN stock traded down $0.22 during trading hours on Wednesday, hitting $113.53. The company had a trading volume of 1,116,996 shares, compared to its average volume of 750,909. Churchill Downs has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The company's fifty day moving average is $100.21 and its 200 day moving average is $107.91. The stock has a market capitalization of $8.20 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 3.01 and a beta of 0.95. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.53 and a quick ratio of 0.53.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.06%. The firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same period in the prior year, the firm earned $2.89 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Insider Transactions at Churchill Downs

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

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently bought and sold shares of CHDN. Norges Bank acquired a new position in Churchill Downs during the fourth quarter worth approximately $74,967,000. SG Americas Securities LLC increased its position in Churchill Downs by 28,864.9% during the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after purchasing an additional 510,331 shares during the last quarter. Millennium Management LLC increased its position in Churchill Downs by 107.4% during the first quarter. Millennium Management LLC now owns 548,476 shares of the company's stock worth $60,919,000 after purchasing an additional 284,045 shares during the last quarter. FMR LLC increased its position in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after purchasing an additional 214,694 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Churchill Downs by 97.9% during the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after buying an additional 213,311 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

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.