Churchill Downs (NASDAQ:CHDN) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Churchill Downs (NASDAQ:CHDN) in a research note published on Monday, Benzinga reports. The brokerage currently has a $156.00 price target on the stock.

CHDN has been the subject of several other research reports. Mizuho raised their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a report on Friday, April 26th. Truist Financial upped their price objective on Churchill Downs from $140.00 to $145.00 and gave the stock a buy rating in a research note on Friday, April 26th. Wells Fargo & Company raised shares of Churchill Downs from an equal weight rating to an overweight rating and raised their target price for the company from $137.00 to $141.00 in a research note on Monday, April 15th. StockNews.com upgraded shares of Churchill Downs from a sell rating to a hold rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a buy rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Churchill Downs currently has a consensus rating of Moderate Buy and an average price target of $145.25.

Churchill Downs Trading Down 0.5 %

NASDAQ CHDN opened at $138.40 on Monday. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $147.30. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The stock’s 50 day moving average price is $122.52 and its two-hundred day moving average price is $122.16. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 3.81 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that Churchill Downs will post 5.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul C. Varga purchased 3,800 shares of the stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $130.22 per share, with a total value of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Churchill Downs

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Churchill Downs during the fourth quarter worth about $94,137,000. Boston Partners acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $47,479,000. Balyasny Asset Management L.P. grew its position in Churchill Downs by 113.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares in the last quarter. Jennison Associates LLC increased its stake in Churchill Downs by 28.9% during the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock worth $108,359,000 after acquiring an additional 179,814 shares during the period. Finally, Barlow Wealth Partners Inc. acquired a new position in Churchill Downs in the 4th quarter valued at $20,669,000. Institutional investors own 82.59% of the company’s stock.

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.