Churchill Downs Incorporated (NASDAQ:CHDN) Given Average Rating of "Buy" by Analysts

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has been given a consensus recommendation of "Buy" by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $160.50.

A number of research firms have issued reports on CHDN. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Mizuho cut their target price on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $168.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Truist Financial reiterated a "buy" rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th.

Churchill Downs Stock Performance

Shares of CHDN traded down $0.98 during trading hours on Friday, hitting $122.11. The stock had a trading volume of 532,353 shares, compared to its average volume of 511,632. The firm has a market capitalization of $8.98 billion, a PE ratio of 22.24, a PEG ratio of 3.05 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The stock has a fifty day moving average price of $128.40 and a 200 day moving average price of $134.99.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is currently 7.47%.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs in the third quarter worth $27,000. Fortitude Family Office LLC boosted its position in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after acquiring an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs in the 4th quarter valued at $55,000. 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; casino gaming; and Terre Haute Casino Resort.