Churchill Downs (NASDAQ:CHDN) Price Target Cut to $148.00 by Analysts at Mizuho

Churchill Downs (NASDAQ:CHDN) had its price target lowered by Mizuho from $151.00 to $148.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 21.73% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial reaffirmed a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.13.

Churchill Downs Price Performance

Shares of CHDN stock opened at $121.58 on Wednesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The firm has a market cap of $8.94 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.02 and a beta of 0.95. The business’s 50 day moving average price is $128.06 and its 200-day moving average price is $134.89.

Institutional Trading of Churchill Downs

Several large investors have recently added to or reduced their stakes in CHDN. Aigen Investment Management LP purchased a new position in shares of Churchill Downs during the 3rd quarter valued at about $516,000. Westfield Capital Management Co. LP raised its stake in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after acquiring an additional 381,754 shares during the period. Atria Investments Inc raised its stake in Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after acquiring an additional 224 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Churchill Downs by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after purchasing an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares during the period. 82.59% of the stock is currently 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.