Wells Fargo & Company Boosts Churchill Downs (NASDAQ:CHDN) Price Target to $168.00

Churchill Downs (NASDAQ:CHDN) had its price target raised by Wells Fargo & Company from $161.00 to $168.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Mizuho increased their target price on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group raised their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Monday, October 14th. Truist Financial reiterated a “buy” rating and issued a $166.00 price target (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Finally, Macquarie boosted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.75.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $138.01 on Thursday. The business has a 50-day simple moving average of $137.79 and a 200-day simple moving average of $135.41. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs has a one year low of $106.45 and a one year high of $146.64. The company has a market cap of $10.14 billion, a PE ratio of 30.74, a P/E/G ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the previous year, the business posted $2.24 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Churchill Downs will post 6.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several large investors have recently modified their holdings of CHDN. First Horizon Advisors Inc. increased its holdings in shares of Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after acquiring an additional 99 shares during the period. Nisa Investment Advisors LLC increased its stake in Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares during the period. Arizona State Retirement System raised its holdings in shares of Churchill Downs by 0.6% in the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock valued at $2,592,000 after buying an additional 114 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Churchill Downs by 4.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after buying an additional 116 shares during the period. Finally, CWM LLC grew its holdings in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after buying an additional 118 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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.