Churchill Downs (NASDAQ:CHDN) Given New $153.00 Price Target at Stifel Nicolaus

Churchill Downs (NASDAQ:CHDN) had its target price upped by Stifel Nicolaus from $150.00 to $153.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on CHDN. JMP Securities reiterated a market outperform rating and issued a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Truist Financial increased their price objective on Churchill Downs from $140.00 to $145.00 and gave the stock a buy rating in a research report on Friday. Mizuho lifted their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research report on Friday. Finally, Wells Fargo & Company upgraded Churchill Downs from an equal weight rating to an overweight rating and upped their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $144.50.

Churchill Downs Stock Performance

Shares of CHDN opened at $129.44 on Friday. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $150.45. The stock has a market capitalization of $9.51 billion, a PE ratio of 28.83, a PEG ratio of 9.00 and a beta of 1.03. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.53 and a current ratio of 0.50. The stock has a 50-day simple moving average of $119.79 and a 200-day simple moving average of $120.64.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC grew its holdings in Churchill Downs by 0.8% in the third quarter. Copeland Capital Management LLC now owns 267,001 shares of the company’s stock valued at $30,983,000 after purchasing an additional 2,217 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Churchill Downs by 39.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,465 shares of the company’s stock valued at $1,098,000 after buying an additional 2,678 shares during the period. Xponance Inc. increased its holdings in shares of Churchill Downs by 1.4% during the 3rd quarter. Xponance Inc. now owns 15,827 shares of the company’s stock worth $1,837,000 after buying an additional 215 shares during the last quarter. Raymond James & Associates raised its position in shares of Churchill Downs by 59.6% in the 3rd quarter. Raymond James & Associates now owns 40,317 shares of the company’s stock worth $4,678,000 after buying an additional 15,048 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Churchill Downs by 37.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,359 shares of the company’s stock valued at $1,318,000 after acquiring an additional 3,087 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; and casino gaming.