Churchill Downs (NASDAQ:CHDN) Given New $137.00 Price Target at Citizens Jmp

Churchill Downs (NASDAQ:CHDN) had its price target reduced by Citizens Jmp from $149.00 to $137.00 in a research note released on Friday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

CHDN has been the topic of a number of other reports. Truist Financial set a $145.00 price target on Churchill Downs in a research report on Friday, June 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Wells Fargo & Company lowered their price objective on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Mizuho boosted their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Churchill Downs Trading Up 1.9%

NASDAQ:CHDN opened at $84.30 on Friday. The firm has a market capitalization of $5.88 billion, a P/E ratio of 14.46, a PEG ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.54. Churchill Downs has a one year low of $79.40 and a one year high of $118.35. The company’s 50-day simple moving average is $86.81 and its 200 day simple moving average is $90.41.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same quarter last year, the firm earned $3.10 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Churchill Downs will post 7.14 EPS for the current fiscal year.

Institutional Trading of Churchill Downs

Institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Churchill Downs by 0.6% in the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after acquiring an additional 11,523 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after purchasing an additional 7,687 shares during the last quarter. Geode Capital Management LLC lifted its position in Churchill Downs by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock valued at $151,089,000 after purchasing an additional 32,445 shares during the period. Boston Partners lifted its position in Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock valued at $121,998,000 after purchasing an additional 11,653 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Churchill Downs by 12.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,145,413 shares of the company’s stock worth $130,325,000 after purchasing an additional 127,687 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs News Roundup

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.