Wells Fargo & Company Issues Pessimistic Forecast for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price target decreased by analysts at Wells Fargo & Company from $168.00 to $165.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 34.43% from the stock’s current price.

Several other research firms have also issued reports on CHDN. Truist Financial reiterated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho cut their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $160.50.

Churchill Downs Stock Performance

Shares of CHDN opened at $122.74 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The firm has a fifty day simple moving average of $130.62 and a 200 day simple moving average of $135.83. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.05 and a beta of 0.95.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC boosted its holdings in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd acquired a new position in shares of Churchill Downs during the 4th quarter worth $55,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Company Profile

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.