Churchill Downs Inc. (NASDAQ:CHDN)‘s stock had its “outperform” rating reiterated by investment analysts at Imperial Capital in a research note issued to investors on Friday. They currently have a $165.00 price target on the stock, up from their prior price target of $145.00. Imperial Capital’s price target suggests a potential upside of 15.60% from the stock’s previous close.
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Monday, October 10th. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price objective on the stock. Gabelli raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, Telsey Advisory Group upped their price objective on shares of Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $162.17.
Shares of Churchill Downs (NASDAQ:CHDN) opened at 142.73 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 29.16 and a beta of 0.89. The stock’s 50 day moving average is $147.24 and its 200 day moving average is $137.33. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.98.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.55. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The business had revenue of $438.50 million for the quarter, compared to analyst estimates of $435.37 million. During the same quarter in the prior year, the business posted $3.10 EPS. Churchill Downs’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Churchill Downs will post $5.94 EPS for the current fiscal year.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $148.75, for a total transaction of $743,750.00. Following the sale, the director now directly owns 189,235 shares of the company’s stock, valued at $28,148,706.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.05% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Genesee Valley Trust Co. purchased a new stake in shares of Churchill Downs during the third quarter worth about $200,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Churchill Downs during the third quarter worth about $517,000. Park National Corp OH purchased a new stake in shares of Churchill Downs during the third quarter worth about $220,000. Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Churchill Downs during the second quarter worth about $262,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Churchill Downs during the second quarter worth about $690,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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