Churchill Downs Incorporated (NASDAQ:CHDN – Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $105.18 and last traded at $106.50, with a volume of 658805 shares. The stock had previously closed at $108.60.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Mizuho reduced their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.
Check Out Our Latest Stock Report on Churchill Downs
Churchill Downs Stock Performance
Churchill Downs (NASDAQ:CHDN – Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.
Churchill Downs declared that its board has authorized a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Hedge Funds Weigh In On Churchill Downs
Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs during the third quarter valued at about $27,000. Fortitude Family Office LLC lifted its holdings in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs during the fourth quarter valued at about $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs during the fourth quarter valued at about $55,000. 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.
See Also
- Five stocks we like better than Churchill Downs
- Value Investing: Is it a Good Strategy in 2022? (Hint: Always)
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- How to Profit From Value Investing
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- Election Stocks: How Elections Affect the Stock Market
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.