Churchill Downs (NASDAQ:CHDN) Price Target Raised to $161.00

Churchill Downs (NASDAQ:CHDN) had its price target boosted by Wells Fargo & Company from $150.00 to $161.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on CHDN. JMP Securities increased their price objective on shares of Churchill Downs from $156.00 to $158.00 and gave the company a market outperform rating in a research report on Wednesday, July 17th. Mizuho raised their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a report on Friday, April 26th. Truist Financial boosted their price objective on shares of Churchill Downs from $145.00 to $165.00 and gave the stock a buy rating in a report on Thursday, July 18th. StockNews.com downgraded Churchill Downs from a hold rating to a sell rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of Moderate Buy and a consensus price target of $155.60.

Churchill Downs Stock Up 1.7 %

Shares of Churchill Downs stock opened at $145.00 on Friday. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $146.64. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. The company has a fifty day moving average price of $137.69 and a 200 day moving average price of $128.28.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the previous year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that Churchill Downs will post 6.03 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Churchill Downs by 14.7% in the 2nd quarter. Principal Financial Group Inc. now owns 294,942 shares of the company’s stock valued at $41,174,000 after acquiring an additional 37,879 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Churchill Downs by 5.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,222 shares of the company’s stock worth $1,287,000 after purchasing an additional 482 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Churchill Downs by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after purchasing an additional 3,608 shares during the period. Independence Bank of Kentucky increased its stake in Churchill Downs by 8.6% during the second quarter. Independence Bank of Kentucky now owns 13,304 shares of the company’s stock valued at $1,857,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new stake in Churchill Downs during the second quarter valued at $2,016,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

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; and casino gaming.