Churchill Downs (NASDAQ:CHDN) PT Raised to $150.00 at Jefferies Financial Group

Churchill Downs (NASDAQ:CHDN) had its target price raised by Jefferies Financial Group from $135.00 to $150.00 in a report published on Friday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the stock. Jefferies Financial Group also issued estimates for Churchill Downs’ Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.13 EPS and Q2 2020 earnings at $2.89 EPS. The analysts noted that the move was a valuation call.

A number of other brokerages also recently weighed in on CHDN. ValuEngine downgraded Churchill Downs from a hold rating to a sell rating in a report on Tuesday, July 2nd. Susquehanna Bancshares initiated coverage on Churchill Downs in a report on Wednesday, July 24th. They set a positive rating and a $140.00 price target for the company. BidaskClub upgraded Churchill Downs from a hold rating to a buy rating in a report on Thursday. Telsey Advisory Group increased their price target on Churchill Downs from $120.00 to $135.00 and gave the stock an outperform rating in a report on Monday, July 1st. Finally, Zacks Investment Research upgraded Churchill Downs from a sell rating to a hold rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $132.20.

Shares of Churchill Downs stock opened at $117.65 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.87 and a current ratio of 1.13. The stock’s 50-day simple moving average is $116.86. Churchill Downs has a 1-year low of $74.58 and a 1-year high of $132.73. The firm has a market cap of $4.71 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.44 and a beta of 1.23.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.01). Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The business had revenue of $477.40 million for the quarter, compared to analyst estimates of $469.85 million. During the same quarter in the previous year, the business posted $7.71 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Analysts forecast that Churchill Downs will post 4.19 earnings per share for the current fiscal year.

In other news, SVP Austin W. Miller sold 5,900 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $117.31, for a total transaction of $692,129.00. Following the transaction, the senior vice president now owns 40,494 shares of the company’s stock, valued at approximately $4,750,351.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.05% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in Churchill Downs by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,416 shares of the company’s stock valued at $968,000 after buying an additional 86 shares in the last quarter. Advisor Partners LLC boosted its holdings in Churchill Downs by 3.0% in the 2nd quarter. Advisor Partners LLC now owns 3,434 shares of the company’s stock valued at $395,000 after purchasing an additional 99 shares during the period. Shine Investment Advisory Services Inc. boosted its holdings in Churchill Downs by 14.1% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 808 shares of the company’s stock valued at $93,000 after purchasing an additional 100 shares during the period. Advisory Services Network LLC bought a new position in Churchill Downs in the 4th quarter valued at $37,000. Finally, Aperio Group LLC boosted its holdings in Churchill Downs by 6.0% in the 2nd quarter. Aperio Group LLC now owns 3,216 shares of the company’s stock valued at $370,000 after purchasing an additional 182 shares during the period. 71.70% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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