Churchill Downs (NASDAQ:CHDN) Price Target Cut to $120.00 by Analysts at Wells Fargo & Company

by · The Markets Daily

Churchill Downs (NASDAQ:CHDN – Get Free Report) had its price target cut by analysts at Wells Fargo & Company from $132.00 to $120.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 43.28% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Citizens Jmp boosted their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, April 24th. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Mizuho increased their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.50.

View Our Latest Report on CHDN

Churchill Downs Stock Down 2.1%

CHDN stock opened at $83.75 on Tuesday. The company has a 50 day moving average price of $87.47 and a two-hundred day moving average price of $93.00. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $5.84 billion, a P/E ratio of 15.51, a PEG ratio of 0.56 and a beta of 0.67. Churchill Downs has a one year low of $80.24 and a one year high of $118.46.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. The business had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, sell-side analysts expect that Churchill Downs will post 7.32 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in Churchill Downs in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares during the period. Root Financial Partners LLC boosted its stake in shares of Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Churchill Downs during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

About Churchill Downs

(Get Free Report)

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.

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