Churchill Downs (NASDAQ:CHDN) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Churchill Downs (NASDAQ:CHDNFree Report) in a report issued on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has a $137.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. JMP Securities lifted their price objective on Churchill Downs from $148.00 to $150.00 and gave the company a market outperform rating in a research note on Friday, February 23rd. Mizuho assumed coverage on Churchill Downs in a research note on Tuesday, March 26th. They set a buy rating and a $142.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $142.63.

View Our Latest Stock Analysis on Churchill Downs

Churchill Downs Price Performance

Churchill Downs stock opened at $120.73 on Tuesday. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The business has a fifty day moving average price of $119.55 and a 200-day moving average price of $120.10. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $8.90 billion, a P/E ratio of 22.15 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDNGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The firm had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. During the same period last year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts forecast that Churchill Downs will post 5.5 EPS for the current year.

Institutional Investors Weigh In On Churchill Downs

Hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its stake in Churchill Downs by 90.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after purchasing an additional 10,868 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Churchill Downs by 34.9% during the third quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after purchasing an additional 38,298 shares during the last quarter. Vanguard Group Inc. lifted its stake in Churchill Downs by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after purchasing an additional 56,318 shares during the last quarter. Fifth Third Bancorp lifted its stake in Churchill Downs by 15.1% during the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Churchill Downs by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after buying an additional 32,751 shares during the period. Institutional investors own 82.59% of the company’s stock.

About Churchill Downs

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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; and casino gaming.

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Analyst Recommendations for Churchill Downs (NASDAQ:CHDN)

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