JMP Securities Raises Churchill Downs (NASDAQ:CHDN) Price Target to $166.00

Churchill Downs (NASDAQ:CHDN) had its target price raised by JMP Securities from $158.00 to $166.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Truist Financial reiterated a buy rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research note on Friday. StockNews.com lowered shares of Churchill Downs from a hold rating to a sell rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an overweight rating in a report on Friday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $155.60.

Churchill Downs Stock Up 1.7 %

Shares of Churchill Downs stock opened at $145.00 on Friday. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50-day moving average of $137.69 and a 200 day moving average of $128.28. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 3.15 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same quarter last year, the firm earned $2.24 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Churchill Downs will post 6.03 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in Churchill Downs by 40.9% in the fourth quarter. SG Americas Securities LLC now owns 7,632 shares of the company’s stock worth $1,030,000 after purchasing an additional 2,214 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Churchill Downs by 11.0% during the 4th quarter. Raymond James & Associates now owns 44,768 shares of the company’s stock valued at $6,041,000 after buying an additional 4,451 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in shares of Churchill Downs by 4.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,575 shares of the company’s stock valued at $327,000 after buying an additional 121 shares during the period. Fifth Third Bancorp boosted its stake in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after buying an additional 189 shares during the last quarter. Finally, Independence Bank of Kentucky grew its holdings in shares of Churchill Downs by 19.8% in the fourth quarter. Independence Bank of Kentucky now owns 6,790 shares of the company’s stock worth $916,000 after acquiring an additional 1,120 shares during the period. 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.