The stock of Churchill Downs, Inc. (NASDAQ:CHDN) hit a new 52-week high and has $162.24 target or 4.00% above today’s $156.00 share price. The 6 months bullish chart indicates low risk for the $2.62 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $162.24 price target is reached, the company will be worth $104.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 12,957 shares traded hands. Churchill Downs, Inc. (NASDAQ:CHDN) has risen 7.76% since April 22, 2016 and is uptrending. It has outperformed by 2.35% the S&P500.
Analysts await Churchill Downs, Inc. (NASDAQ:CHDN) to report earnings on February, 22. They expect $0.62 EPS, up 44.19% or $0.19 from last year’s $0.43 per share. CHDN’s profit will be $10.41M for 62.90 P/E if the $0.62 EPS becomes a reality. After $0.52 actual EPS reported by Churchill Downs, Inc. for the previous quarter, Wall Street now forecasts 19.23% EPS growth.
Churchill Downs, Inc. (NASDAQ:CHDN) Ratings Coverage
Out of 4 analysts covering Churchill Downs (NASDAQ:CHDN), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Churchill Downs has been the topic of 7 analyst reports since September 14, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, August 5 by Telsey Advisory Group. The rating was maintained by Telsey Advisory Group on Monday, October 31 with “Outperform”. The company was maintained on Friday, October 14 by Imperial Capital. Telsey Advisory Group maintained Churchill Downs, Inc. (NASDAQ:CHDN) rating on Friday, February 26. Telsey Advisory Group has “Outperform” rating and $175 price target. The stock has “Neutral” rating given by JP Morgan on Thursday, September 22. Imperial Capital maintained Churchill Downs, Inc. (NASDAQ:CHDN) rating on Monday, September 14. Imperial Capital has “Outperform” rating and $150 price target. Hilliard Lyons upgraded the stock to “Buy” rating in Friday, May 6 report.
According to Zacks Investment Research, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests.”
Insitutional Activity: The institutional sentiment increased to 1.55 in 2016 Q2. Its up 0.35, from 1.2 in 2016Q1. The ratio increased, as 28 funds sold all Churchill Downs, Inc. shares owned while 38 reduced positions. 24 funds bought stakes while 55 increased positions. They now own 11.39 million shares or 3.26% more from 11.03 million shares in 2016Q1.
Moreover, Globeflex Cap Limited Partnership has 0.28% invested in Churchill Downs, Inc. (NASDAQ:CHDN) for 8,200 shares. Tiaa Cref Invest Management Lc last reported 0% of its portfolio in the stock. Texas Permanent School Fund holds 8,987 shares or 0.02% of its portfolio. Moreover, Blackrock Investment Mgmt Limited Liability Com has 0.01% invested in Churchill Downs, Inc. (NASDAQ:CHDN) for 80,049 shares. Amalgamated Natl Bank has 1,485 shares for 0.01% of their US portfolio. Van Eck Assoc has 1,172 shares for 0% of their US portfolio. Prudential Inc has invested 0% of its portfolio in Churchill Downs, Inc. (NASDAQ:CHDN). Moreover, Eulav Asset has 0.09% invested in Churchill Downs, Inc. (NASDAQ:CHDN) for 13,300 shares. State Board Of Administration Of Florida Retirement last reported 7,340 shares in the company. Brant Point Investment Mngmt Llc has invested 0.42% of its portfolio in Churchill Downs, Inc. (NASDAQ:CHDN). Metropolitan Life Insurance Com holds 0.02% or 20,732 shares in its portfolio. Zacks Invest Mngmt last reported 0.07% of its portfolio in the stock. Mycio Wealth Limited Liability Corp, a Pennsylvania-based fund reported 250 shares. Moreover, Schwab Charles Investment has 0.01% invested in Churchill Downs, Inc. (NASDAQ:CHDN) for 52,799 shares. Stifel Fincl Corporation accumulated 8,283 shares or 0% of the stock.
Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 5 selling transactions for $5.25 million net activity. 5,000 shares were sold by Evans Robert L, worth $750,000 on Friday, September 2.
More recent Churchill Downs, Inc. (NASDAQ:CHDN) news were published by: Fool.com which released: “Why Churchill Downs Inc. Stock Jumped 14% Last Month” on September 12, 2016. Also Bizjournals.com published the news titled: “Churchill Downs Inc. just sold land at one of its racetracks for $26.5 million” on November 09, 2016. Bizjournals.com‘s news article titled: “Churchill Downs closes on remaining piece of Saratoga casino deal” with publication date: November 22, 2016 was also an interesting one.
CHDN Company Profile
Churchill Downs Incorporated, incorporated on February 17, 1937, is a racing, gaming and online entertainment company. The Firm is engaged in brick-and-mortar casino gaming with approximately 8,500 gaming positions in over six states, and is a legal online account wagering platform for horseracing in the United States. It operates in six divisions: Racing, Casinos, TwinSpires, Big Fish Games, Inc. (Big Fish Games), Other Investments and Corporate. It is a diversified well-known provider of casino gaming, online account wagering on horse racing, and pari-mutuel horse racing. The Firm is a producer and distributor of online and mobile casual games.
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