Churchill Downs (NASDAQ:CHDN) Price Target Lowered to $151.00 at Mizuho

Churchill Downs (NASDAQ:CHDN) had its target price decreased by analysts at Mizuho from $157.00 to $151.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 12.58% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus raised their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $134.13 on Tuesday. The company has a market cap of $9.86 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $146.64. The business has a 50 day moving average price of $137.73 and a 200-day moving average price of $135.69.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. The business had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.24 EPS. Equities analysts anticipate that Churchill Downs will post 6.13 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Several hedge funds have recently made changes to their positions in CHDN. Louisiana State Employees Retirement System grew its stake in shares of Churchill Downs by 7.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $2,745,000 after acquiring an additional 1,400 shares during the period. Argent Capital Management LLC lifted its holdings in Churchill Downs by 2.6% during the third quarter. Argent Capital Management LLC now owns 19,542 shares of the company’s stock valued at $2,642,000 after purchasing an additional 502 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in Churchill Downs during the third quarter worth about $236,000. Community Trust & Investment Co. increased its stake in shares of Churchill Downs by 0.6% in the third quarter. Community Trust & Investment Co. now owns 129,629 shares of the company’s stock worth $17,527,000 after purchasing an additional 745 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Churchill Downs in the third quarter valued at approximately $241,000. 82.59% of the stock is currently owned by institutional investors.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.