Churchill Downs (NASDAQ:CHDN) Price Target Raised to $157.00

Churchill Downs (NASDAQ:CHDN) had its price objective upped by Mizuho from $155.00 to $157.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research note on Friday, June 12th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Susquehanna upped their price objective on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Citizens Jmp reduced their price objective on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research report on Friday, July 31st. Finally, Wells Fargo & Company decreased their price objective on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $136.88.

Churchill Downs Stock Performance

Shares of CHDN opened at $86.41 on Monday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. Churchill Downs has a twelve month low of $79.40 and a twelve month high of $118.35. The firm’s 50 day moving average price is $86.81 and its two-hundred day moving average price is $89.84. The firm has a market cap of $6.02 billion, a P/E ratio of 14.82, a PEG ratio of 0.81 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same quarter in the prior year, the firm earned $3.10 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Churchill Downs will post 7.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently modified their holdings of CHDN. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Churchill Downs during the 4th quarter worth approximately $38,000. Institutional investors own 82.59% of the company’s stock.

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.