Churchill Downs Incorporated (NASDAQ:CHDN) Given Average Recommendation of "Buy" by Brokerages

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has earned a consensus recommendation of "Buy" from the eight brokerages that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $159.38.

Several equities analysts have weighed in on CHDN shares. StockNews.com cut shares of Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday. JMP Securities reiterated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho lowered their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Stifel Nicolaus dropped their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, February 21st.

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Churchill Downs Price Performance

Churchill Downs stock traded up $1.11 during mid-day trading on Tuesday, hitting $107.61. The company's stock had a trading volume of 703,842 shares, compared to its average volume of 471,749. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $7.91 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.93. Churchill Downs has a twelve month low of $105.18 and a twelve month high of $150.21. The stock's fifty day moving average price is $121.90 and its two-hundred day moving average price is $132.51.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (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 analyst estimates of $620.21 million. Research analysts forecast that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a stock buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CHDN. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 90 shares during the period. Winslow Asset Management Inc. boosted its holdings in Churchill Downs by 2.8% in the 3rd 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 during the period. Commerce Bank lifted its holdings in shares of Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company's stock worth $686,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock worth $2,724,000 after acquiring an additional 100 shares during the period. Finally, Utah Retirement Systems lifted its holdings in shares of Churchill Downs by 2.7% during the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds 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.