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

Churchill Downs (NASDAQ:CHDN) had its price target decreased by Wells Fargo & Company from $168.00 to $165.00 in a report issued on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Truist Financial restated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho lowered their price objective on 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 shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.50.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $120.90 on Monday. The firm has a 50 day simple moving average of $129.42 and a 200 day simple moving average of $135.47. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 3.05 and a beta of 0.95. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s payout ratio is presently 7.47%.

Institutional Trading of Churchill Downs

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

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.