Churchill Downs (NASDAQ:CHDN) Shares Gap Down - What's Next?

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $134.13, but opened at $130.10. Churchill Downs shares last traded at $137.21, with a volume of 66,533 shares.

Analyst Ratings Changes

CHDN has been the topic of a number of research reports. Truist Financial reissued a "buy" rating and issued a $166.00 price objective (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Mizuho cut their price objective 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. Stifel Nicolaus raised their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Jefferies Financial Group boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.00.

Churchill Downs Trading Up 4.5 %

The firm has a market capitalization of $10.30 billion, a P/E ratio of 30.50, a PEG ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The stock has a fifty day simple moving average of $137.70 and a 200 day simple moving average of $135.68.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same quarter last year, the company earned $0.87 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.13 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently modified their holdings of CHDN. Goldman Sachs Group Inc. lifted its stake in Churchill Downs by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company's stock worth $20,425,000 after purchasing an additional 9,354 shares in the last quarter. Park Avenue Securities LLC increased its stake in Churchill Downs by 3.7% in the 1st quarter. Park Avenue Securities LLC now owns 8,394 shares of the company's stock worth $1,039,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Churchill Downs by 80.5% during the 1st quarter. Independence Bank of Kentucky now owns 12,254 shares of the company's stock worth $1,516,000 after acquiring an additional 5,464 shares in the last quarter. Guidance Capital Inc. raised its holdings in shares of Churchill Downs by 2.5% during the 1st quarter. Guidance Capital Inc. now owns 11,768 shares of the company's stock worth $1,438,000 after acquiring an additional 284 shares in the last quarter. Finally, Mirador Capital Partners LP bought a new position in shares of Churchill Downs during the 1st quarter valued at approximately $272,000. Institutional investors 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.