Churchill Downs (NASDAQ:CHDN) Given New $127.00 Price Target at Barclays

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

Several other equities research analysts also recently weighed in on the stock. Truist Financial reduced 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, July 16th. Susquehanna lowered their price target on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. JMP Securities reduced their price objective on 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. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Macquarie lowered their target price 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 equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.45.

Churchill Downs Stock Down 0.2%

Shares of NASDAQ CHDN traded down $0.24 during trading on Friday, reaching $105.32. 182,283 shares of the stock were exchanged, compared to its average volume of 592,343. The business's 50-day moving average price is $99.65 and its 200 day moving average price is $108.09. Churchill Downs has a twelve month low of $85.58 and a twelve month 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. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.91 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share 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 the consensus estimate of $649.68 million. During the same quarter in the previous year, the firm earned $1.13 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Churchill Downs will post 6.92 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Churchill Downs by 6.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,509 shares of the company's stock valued at $1,537,000 after buying an additional 701 shares in the last quarter. Xponance Inc. grew its holdings 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 buying an additional 412 shares in the last quarter. Teacher Retirement System of Texas grew its holdings 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 buying an additional 836 shares in the last quarter. Semanteon Capital Management LP grew its holdings 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 buying an additional 1,454 shares in the last quarter. Finally, Sei Investments Co. grew its holdings 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 buying an additional 2,356 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.