Churchill Downs (NASDAQ:CHDN) Given New $120.00 Price Target at JPMorgan Chase & Co.

Churchill Downs (NASDAQ:CHDN) had its target price lifted by research analysts at JPMorgan Chase & Co. from $118.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 26.54% from the company’s current price.

CHDN has been the subject of several other research reports. Truist Financial reduced their price objective on shares of Churchill Downs from $145.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Mizuho upped their price objective on shares of Churchill Downs from $125.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday. Barclays increased their target price on shares of Churchill Downs from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday. Citizens Jmp lowered their target price on Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 13th. Finally, Wolfe Research started coverage on shares of Churchill Downs in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.70.

Churchill Downs Price Performance

NASDAQ CHDN traded up $3.67 during mid-day trading on Friday, hitting $94.83. The stock had a trading volume of 1,887,640 shares, compared to its average volume of 1,016,083. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.87 and a beta of 0.77. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs has a twelve month low of $73.08 and a twelve month high of $118.35. The firm’s 50 day moving average is $82.88 and its 200 day moving average is $88.33.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. Churchill Downs had a return on equity of 41.89% and a net margin of 15.15%. The company had revenue of $696.00 million for the quarter, compared to analyst estimates of $695.16 million. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Churchill Downs will post 6.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors have recently bought and sold shares of CHDN. Provenance Wealth Advisors LLC bought a new stake in shares of Churchill Downs in the third quarter valued at $201,000. ProShare Advisors LLC lifted its stake in Churchill Downs by 13.8% during the 3rd quarter. ProShare Advisors LLC now owns 331,954 shares of the company’s stock valued at $25,122,000 after acquiring an additional 40,339 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Churchill Downs by 1,083.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 49,700 shares of the company’s stock valued at $3,761,000 after buying an additional 45,500 shares during the period. Simplicity Wealth LLC bought a new position in shares of Churchill Downs in the third quarter worth about $215,000. Finally, Sage Private Wealth Group LLC bought a new position in Churchill Downs during the third quarter valued at $225,000. Institutional investors own 82.59% of the company’s stock.

Key Churchill Downs News

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

• Positive Sentiment: Third-quarter results exceeded expectations. Churchill Downs reported adjusted earnings of $1.23 per share, ahead of the approximately $1.13 consensus estimate, while revenue reached $696.0 million versus expectations of roughly $695.2 million. Revenue increased 1.9% year over year, and the earnings performance appears to have strengthened investor confidence in the company’s cash-flow outlook. Churchill Downs third-quarter earnings results
• Positive Sentiment: $750 million share repurchase authorized. The buyback could support earnings per share and provide demand for CHDN shares, particularly as management emphasizes cash generation. Churchill Downs $750 million buyback
• Positive Sentiment: Analysts raised their targets. Barclays increased its target from $132 to $133 and maintained an “overweight” rating, while Mizuho lifted its target from $125 to $126 and retained an “outperform” rating. Both imply substantial upside from the recent trading level. Barclays Churchill Downs rating Mizuho Churchill Downs rating
• Positive Sentiment: Dividend increased. Churchill Downs declared an annual dividend of $0.469 per share, up 7.1% from $0.438, payable January 5, 2027. The increase adds to the shareholder-return appeal, although the dividend yield remains modest. Churchill Downs dividend declaration
• Positive Sentiment: Technical momentum improved. CHDN shares broke above their 200-day moving average, a development that may attract momentum-oriented investors. Churchill Downs moves above 200-day moving average
• Neutral Sentiment: Churchill Downs appointed Michael Tucker as a Class II director. The board change is unlikely to materially affect near-term valuation. Michael Tucker board appointment
• Negative Sentiment: Stifel lowered its price target to $131, modestly tempering the otherwise bullish analyst tone, although it kept CHDN on its Select List. Stifel Churchill Downs price target

About Churchill Downs

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.