Churchill Downs (NASDAQ:CHDN) Given Market Outperform Rating at JMP Securities

Churchill Downs (NASDAQ:CHDN)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $166.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 25.54% from the stock’s previous close.

Several other research firms have also recently issued reports on CHDN. Wells Fargo & Company boosted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Trading Down 0.4 %

Shares of NASDAQ CHDN opened at $132.23 on Thursday. The business’s 50 day moving average price is $139.48 and its 200-day moving average price is $138.53. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.84 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. On average, sell-side analysts expect that Churchill Downs will post 5.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHDN. Winslow Asset Management Inc. boosted its position in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after buying an additional 90 shares in the last quarter. Commerce Bank boosted its holdings in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after buying an additional 90 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after buying an additional 105 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Churchill Downs by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after acquiring an additional 114 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

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.