Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) Target Price at $145.25

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has been assigned an average rating of "Buy" from the eight analysts that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $145.25.

A number of equities research analysts recently weighed in on CHDN shares. JMP Securities restated a "market outperform" rating and issued a $156.00 price target on shares of Churchill Downs in a report on Monday, May 6th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday. Wells Fargo & Company upgraded Churchill Downs from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. Stifel Nicolaus upped their price target on Churchill Downs from $150.00 to $153.00 and gave the stock a "buy" rating in a report on Friday, April 26th. Finally, Mizuho upped their price target on Churchill Downs from $142.00 to $143.00 and gave the stock a "buy" rating in a report on Friday, April 26th.

Insider Buying and Selling at Churchill Downs

In related news, Director Paul C. Varga bought 3,800 shares of the stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now owns 28,902 shares in the company, valued at $3,763,618.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Capital International Sarl lifted its stake in shares of Churchill Downs by 48.7% during the 1st quarter. Capital International Sarl now owns 15,568 shares of the company's stock worth $1,927,000 after purchasing an additional 5,099 shares during the period. Capital International Investors lifted its stake in shares of Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock worth $316,881,000 after purchasing an additional 177,900 shares during the period. Capital Group Private Client Services Inc. lifted its stake in shares of Churchill Downs by 24.8% during the 1st quarter. Capital Group Private Client Services Inc. now owns 203,155 shares of the company's stock worth $25,140,000 after purchasing an additional 40,359 shares during the period. Boulder Hill Capital Management LP purchased a new position in shares of Churchill Downs during the 1st quarter worth $2,822,000. Finally, Natixis purchased a new position in shares of Churchill Downs during the 1st quarter worth $3,180,000. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Performance

NASDAQ CHDN traded down $0.04 on Wednesday, hitting $133.86. 454,714 shares of the company's stock were exchanged, compared to its average volume of 412,512. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The firm's 50-day moving average price is $124.14 and its two-hundred day moving average price is $122.97. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $145.71. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 3.83 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million for the quarter, compared to analysts' expectations of $565.41 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Churchill Downs will post 5.72 EPS for the current year.

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; and casino gaming.