Churchill Downs (NASDAQ:CHDN) Earns Overweight Rating from Analysts at Barclays

Equities research analysts at Barclays assumed coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research report issued on Friday, MarketBeat reports. The brokerage set an “overweight” rating and a $125.00 price target on the stock. Barclays‘s price target suggests a potential upside of 21.94% from the stock’s current price.

CHDN has been the topic of several other reports. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho lowered their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus cut their price objective on Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, StockNews.com lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $153.44.

Churchill Downs Trading Up 0.1 %

Shares of NASDAQ CHDN opened at $102.51 on Friday. The business has a 50 day simple moving average of $112.92 and a 200 day simple moving average of $127.55. Churchill Downs has a 52 week low of $96.67 and a 52 week high of $150.21. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. On average, research analysts predict that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its board has initiated a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds have recently made changes to their positions in CHDN. Vanguard Group Inc. raised its holdings in Churchill Downs by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock valued at $909,183,000 after acquiring an additional 107,737 shares in the last quarter. FMR LLC raised its stake in shares of Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after purchasing an additional 214,694 shares in the last quarter. Boston Partners lifted its position in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after purchasing an additional 366,283 shares during the period. Schroder Investment Management Group boosted its stake in Churchill Downs by 5.4% during the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock worth $201,223,000 after buying an additional 77,213 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Churchill Downs by 4.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company’s stock valued at $179,557,000 after buying an additional 59,657 shares during the period. Institutional investors 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; casino gaming; and Terre Haute Casino Resort.