Churchill Downs (NASDAQ:CHDN) Given New $145.00 Price Target at Truist Financial

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price target cut by equities research analysts at Truist Financial from $150.00 to $145.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 37.21% from the stock's previous close.

Several other brokerages have also commented on CHDN. Barclays decreased their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. JMP Securities decreased their price target on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. began coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective for the company. Stifel Nicolaus boosted their price objective on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Susquehanna lowered their target price on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $138.45.

Churchill Downs Trading Down 0.6%

NASDAQ:CHDN traded down $0.59 on Wednesday, reaching $105.68. The company's stock had a trading volume of 164,901 shares, compared to its average volume of 590,558. Churchill Downs has a 12-month low of $85.58 and a 12-month high of $150.21. The stock has a 50 day moving average price of $99.44 and a 200 day moving average price of $108.62. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 3.01 and a beta of 0.95. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The business had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a return on equity of 40.73% and a net margin of 15.19%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. On average, equities analysts anticipate that Churchill Downs will post 6.92 EPS for the current fiscal year.

Insider Activity at Churchill Downs

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

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Churchill Downs by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after buying an additional 107,737 shares during the last quarter. FMR LLC boosted its holdings in shares of Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after acquiring an additional 214,694 shares during the period. Boston Partners grew its position in shares of Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after acquiring an additional 366,283 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Churchill Downs by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after acquiring an additional 77,213 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position in Churchill Downs by 4.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock valued at $179,557,000 after purchasing an additional 59,657 shares during the last quarter. Institutional investors and hedge funds 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.