Churchill Downs (NASDAQ:CHDN) Rating Reiterated by JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research note issued on Monday, Benzinga reports. They currently have a $156.00 price target on the stock. JMP Securities’ price objective indicates a potential upside of 12.98% from the stock’s previous close.

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

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $138.08 on Monday. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $148.36. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. The company has a market cap of $10.15 billion, a P/E ratio of 30.75, a P/E/G ratio of 3.81 and a beta of 0.99. The business’s 50 day moving average is $121.85 and its two-hundred day moving average is $121.92.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Churchill Downs will post 5.72 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul C. Varga acquired 3,800 shares of the stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the purchase, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.13% of the company’s stock.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its stake in Churchill Downs by 39.5% in the third 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 in the last quarter. Raymond James & Associates grew its holdings in shares of Churchill Downs by 59.6% during the 3rd quarter. Raymond James & Associates now owns 40,317 shares of the company’s stock valued at $4,678,000 after purchasing an additional 15,048 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Churchill Downs by 37.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,359 shares of the company’s stock worth $1,318,000 after purchasing an additional 3,087 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Churchill Downs by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock valued at $77,615,000 after purchasing an additional 32,751 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Churchill Downs by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,325 shares of the company’s stock valued at $1,546,000 after buying an additional 1,661 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

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.