Churchill Downs (NASDAQ:CHDN) Price Target Raised to $127.00

Churchill Downs (NASDAQ:CHDN - Free Report) had its target price upped by Barclays from $124.00 to $127.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on CHDN. Stifel Nicolaus lifted their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group lowered their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial lowered their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday. Susquehanna lowered their price objective on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, JMP Securities lowered their price objective 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.45.

Churchill Downs Stock Performance

Shares of CHDN traded down $0.72 during trading hours on Friday, hitting $105.55. The company's stock had a trading volume of 513,364 shares, compared to its average volume of 593,355. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.93 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. The business has a 50 day simple moving average of $99.65 and a two-hundred day simple moving average of $108.43. Churchill Downs has a 52-week low of $85.58 and a 52-week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data 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 net margin of 15.19% and a return on equity of 40.73%. The firm had revenue of $642.60 million during the quarter, compared to the consensus estimate of $649.68 million. During the same quarter last year, the business posted $1.13 earnings per share. Churchill Downs's revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds have recently bought and sold shares of CHDN. Envestnet Portfolio Solutions Inc. boosted its stake in Churchill Downs by 6.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,509 shares of the company's stock worth $1,537,000 after purchasing an additional 701 shares in the last quarter. Xponance Inc. lifted its stake in Churchill Downs by 3.0% during the 4th quarter. Xponance Inc. now owns 14,345 shares of the company's stock valued at $1,916,000 after acquiring an additional 412 shares during the period. Teacher Retirement System of Texas lifted its stake in Churchill Downs by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company's stock valued at $1,228,000 after acquiring an additional 836 shares during the period. Semanteon Capital Management LP lifted its stake in Churchill Downs by 21.6% during the 4th quarter. Semanteon Capital Management LP now owns 8,194 shares of the company's stock valued at $1,094,000 after acquiring an additional 1,454 shares during the period. Finally, Sei Investments Co. lifted its stake in Churchill Downs by 6.0% during the 4th quarter. Sei Investments Co. now owns 41,892 shares of the company's stock valued at $5,594,000 after acquiring an additional 2,356 shares during the period. 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.