Churchill Downs (NASDAQ:CHDN) Stock Gets Price Target Trim from Truist Financial

Churchill Downs (NASDAQ:CHDN) had its price target lowered by Truist Financial from $145.00 to $140.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on CHDN. Weiss Ratings raised Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Wolfe Research began coverage on Churchill Downs in a report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 target price on the stock. Citigroup restated a “market outperform” rating on shares of Churchill Downs in a research report on Tuesday, October 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price target (up from $117.00) on shares of Churchill Downs in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.80.

Churchill Downs Stock Up 2.0%

NASDAQ:CHDN opened at $84.45 on Tuesday. Churchill Downs has a 12-month low of $73.08 and a 12-month high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The firm has a market capitalization of $5.89 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.87 and a beta of 0.77. The stock’s fifty day simple moving average is $83.39 and its 200-day simple moving average is $86.56.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting analysts’ consensus estimates of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%. The business had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $977.38 million. During the same period in the previous year, the firm earned $3.10 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Churchill Downs will post 7.04 earnings per share for the current year.

Institutional Trading of Churchill Downs

Several hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its stake in Churchill Downs by 118.8% in the second quarter. Engineers Gate Manager LP now owns 54,890 shares of the company’s stock valued at $4,920,000 after acquiring an additional 29,807 shares during the period. BlackRock Inc. acquired a new stake in shares of Churchill Downs during the second quarter worth about $555,948,000. Bridger Management LLC bought a new position in shares of Churchill Downs during the 2nd quarter valued at about $5,126,000. Aurora Investment Counsel bought a new position in shares of Churchill Downs during the 2nd quarter valued at about $2,265,000. Finally, Commerce Bank bought a new position in shares of Churchill Downs during the 2nd quarter valued at about $604,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

About Churchill Downs

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.