JMP Securities Reaffirms Market Outperform Rating for Churchill Downs (NASDAQ:CHDN)

JMP Securities reissued their market outperform rating on shares of Churchill Downs (NASDAQ:CHDN - Free Report) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $150.00 price objective on the stock.

A number of other research firms have also recently issued reports on CHDN. Wells Fargo & Company restated an equal weight rating and set a $137.00 price target on shares of Churchill Downs in a report on Tuesday. Mizuho assumed coverage on Churchill Downs in a report on Tuesday, March 26th. They set a buy rating and a $142.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $142.63.

Churchill Downs Trading Down 1.5 %

CHDN stock traded down $1.83 during trading on Wednesday, hitting $123.02. The company had a trading volume of 381,328 shares, compared to its average volume of 363,916. The business has a 50-day moving average of $119.53 and a 200-day moving average of $120.01. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The stock has a market cap of $9.07 billion, a PE ratio of 22.55 and a beta of 1.03. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The business had revenue of $561.20 million for the quarter, compared to analysts' expectations of $553.05 million. During the same period in the prior year, the business posted $0.73 earnings per share. The firm's revenue was up 16.9% on a year-over-year basis. Research analysts predict that Churchill Downs will post 5.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its position in Churchill Downs by 90.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company's stock valued at $2,657,000 after buying an additional 10,868 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Churchill Downs by 34.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company's stock valued at $17,178,000 after buying an additional 38,298 shares during the last quarter. Vanguard Group Inc. raised its position in Churchill Downs by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company's stock valued at $776,231,000 after buying an additional 56,318 shares during the last quarter. Fifth Third Bancorp raised its position in Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company's stock valued at $194,000 after buying an additional 189 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Churchill Downs by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company's stock valued at $77,615,000 after buying an additional 32,751 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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; and casino gaming.