Churchill Downs (NASDAQ:CHDN) PT Raised to $160.00 at Stifel Nicolaus

Churchill Downs (NASDAQ:CHDN) had its price target lifted by Stifel Nicolaus from $153.00 to $160.00 in a report released on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on CHDN. Mizuho lifted their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research report on Friday, April 26th. JMP Securities lifted their target price on shares of Churchill Downs from $156.00 to $158.00 and gave the company a market outperform rating in a report on Wednesday, July 17th. Truist Financial increased their price target on shares of Churchill Downs from $145.00 to $165.00 and gave the stock a buy rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on Churchill Downs from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, StockNews.com raised Churchill Downs from a sell rating to a hold rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of Moderate Buy and a consensus target price of $151.11.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $137.96 on Monday. Churchill Downs has a one year low of $106.45 and a one year high of $146.64. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.13 and a beta of 0.97. The company has a 50-day simple moving average of $137.32 and a 200-day simple moving average of $127.98. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.71 by $0.18. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period in the prior year, the business earned $2.24 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts predict that Churchill Downs will post 6.03 EPS for the current year.

Insider Activity at Churchill Downs

In other news, Director Paul C. Varga bought 3,800 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares in the company, valued at $3,763,618.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.13% of the stock is currently owned by company insiders.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Churchill Downs by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after purchasing an additional 3,608 shares in the last quarter. Independence Bank of Kentucky increased its position in Churchill Downs by 8.6% during the second quarter. Independence Bank of Kentucky now owns 13,304 shares of the company’s stock worth $1,857,000 after buying an additional 1,050 shares in the last quarter. Silvant Capital Management LLC purchased a new position in Churchill Downs during the second quarter worth $2,016,000. RPS Advisory Solutions LLC acquired a new position in shares of Churchill Downs in the second quarter worth $649,000. Finally, Argent Capital Management LLC purchased a new stake in shares of Churchill Downs in the second quarter valued at $2,658,000. Hedge funds and other 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.