Churchill Downs, Incorporated (CHDN) Stock Rating Reaffirmed by Imperial Capital

Churchill Downs, Incorporated (NASDAQ:CHDN)‘s stock had its “buy” rating reiterated by Imperial Capital in a report issued on Sunday, July 30th. Imperial Capital also issued estimates for Churchill Downs,’s FY2018 earnings at $7.43 EPS.

Other equities research analysts have also issued reports about the company. Telsey Advisory Group increased their price target on Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. BidaskClub lowered Churchill Downs, from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Churchill Downs, from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $191.25.

Shares of Churchill Downs, (NASDAQ CHDN) traded up 0.88% on Friday, hitting $194.95. The stock had a trading volume of 55,452 shares. The stock has a market cap of $3.14 billion, a P/E ratio of 26.64 and a beta of 0.88. The firm’s 50-day moving average is $185.47 and its 200 day moving average is $166.84. Churchill Downs, has a 1-year low of $131.70 and a 1-year high of $196.00.

Churchill Downs, (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.30. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The company had revenue of $451.90 million for the quarter, compared to analyst estimates of $439.33 million. During the same period in the prior year, the company posted $4.11 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that Churchill Downs, will post $6.78 EPS for the current year.

Churchill Downs, declared that its board has initiated a share buyback program on Tuesday, April 25th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 99% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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In related news, Director R Alex Rankin acquired 1,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the completion of the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at approximately $1,841,002.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Duchossois purchased 4,548 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was acquired at an average price of $164.95 per share, with a total value of $750,192.60. Following the completion of the transaction, the director now owns 9,509 shares of the company’s stock, valued at approximately $1,568,509.55. The disclosure for this purchase can be found here. 18.44% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its position in shares of Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares in the last quarter. Citigroup Inc. boosted its stake in Churchill Downs, by 352.2% in the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after buying an additional 560 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in Churchill Downs, during the second quarter worth $161,000. Strs Ohio boosted its stake in Churchill Downs, by 150.0% in the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after buying an additional 600 shares during the last quarter. Finally, Sawgrass Asset Management LLC bought a new stake in Churchill Downs, during the second quarter worth $203,000. Institutional investors and hedge funds own 74.54% of the company’s stock.

Churchill Downs, Company Profile

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.

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