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

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has earned an average recommendation of "Buy" from the nine analysts that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $158.33.

A number of research firms have issued reports on CHDN. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Friday, August 2nd. Macquarie upped their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Truist Financial restated a "buy" rating and set a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 11th. Finally, Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th.

Churchill Downs Stock Performance

Shares of CHDN stock traded down $0.92 on Friday, hitting $139.07. 408,007 shares of the stock traded hands, compared to its average volume of 429,422. The company's fifty day moving average is $137.14 and its 200 day moving average is $134.78. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64. The company has a market capitalization of $10.22 billion, a PE ratio of 25.66, a PEG ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 EPS. On average, equities research analysts predict that Churchill Downs will post 6.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHDN. Creative Planning raised its position in shares of Churchill Downs by 15.4% in the third quarter. Creative Planning now owns 4,655 shares of the company's stock worth $629,000 after buying an additional 620 shares in the last quarter. Independence Bank of Kentucky increased its stake in Churchill Downs by 6.2% in the 3rd quarter. Independence Bank of Kentucky now owns 14,129 shares of the company's stock worth $1,910,000 after acquiring an additional 825 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after acquiring an additional 255 shares during the last quarter. Barlow Wealth Partners Inc. grew its holdings in shares of Churchill Downs by 0.7% during the third quarter. Barlow Wealth Partners Inc. now owns 122,692 shares of the company's stock worth $16,756,000 after purchasing an additional 825 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in shares of Churchill Downs by 5.6% in the third quarter. Strategic Wealth Partners Ltd. now owns 10,612 shares of the company's stock worth $1,435,000 after purchasing an additional 565 shares during the last quarter. 82.59% of the stock is 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; casino gaming; and Terre Haute Casino Resort.