Churchill Downs, Inc. (NASDAQ:CHDN) Receives $122.00 Consensus Target Price from Brokerages

Churchill Downs, Inc. (NASDAQ:CHDN) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $122.00.

A number of brokerages recently weighed in on CHDN. Jefferies Financial Group reaffirmed a “buy” rating on shares of Extended Stay America in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Telsey Advisory Group raised their price target on Churchill Downs from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, July 1st. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th.

In other news, SVP Austin W. Miller sold 5,900 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $117.31, for a total value of $692,129.00. Following the completion of the transaction, the senior vice president now directly owns 40,494 shares in the company, valued at $4,750,351.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Alex Rankin acquired 500 shares of Churchill Downs stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average price of $101.83 per share, with a total value of $50,915.00. The disclosure for this purchase can be found here. 13.05% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Gemmer Asset Management LLC raised its stake in shares of Churchill Downs by 200.0% in the first quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in shares of Churchill Downs in the first quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Churchill Downs in the first quarter worth about $27,000. FTB Advisors Inc. raised its stake in shares of Churchill Downs by 248.0% in the first quarter. FTB Advisors Inc. now owns 355 shares of the company’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Churchill Downs in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

CHDN stock traded up $2.91 during trading on Friday, reaching $117.64. 158,277 shares of the company traded hands, compared to its average volume of 221,796. Churchill Downs has a 12 month low of $74.58 and a 12 month high of $118.89. The company’s 50 day moving average price is $110.40. The company has a market capitalization of $4.61 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 3.22.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.23. Churchill Downs had a return on equity of 33.97% and a net margin of 16.81%. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $250.57 million. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. Equities research analysts expect that Churchill Downs will post 4.4 earnings per share for the current fiscal year.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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