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

Churchill Downs (NASDAQ:CHDN) had its target price lowered by Susquehanna from $124.00 to $115.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Susquehanna currently has a positive rating on the stock.

A number of other analysts have also recently issued reports on CHDN. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research report on Monday. Truist Financial cut their price target on Churchill Downs from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Citizens Jmp cut their price target on Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price objective on Churchill Downs from $123.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.88.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $83.73 on Wednesday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs has a 1 year low of $73.08 and a 1 year high of $118.35. The company has a market capitalization of $5.84 billion, a PE ratio of 14.36, a P/E/G ratio of 0.89 and a beta of 0.77. The company has a fifty day moving average of $83.25 and a two-hundred day moving average of $86.54.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same quarter last year, the company posted $3.10 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Churchill Downs will post 6.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHDN. Sanctuary Advisors LLC grew its holdings in shares of Churchill Downs by 0.5% during the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock worth $2,479,000 after purchasing an additional 125 shares during the period. Miller Financial Services LLC increased its position in Churchill Downs by 3.6% during the 3rd quarter. Miller Financial Services LLC now owns 3,610 shares of the company’s stock worth $273,000 after purchasing an additional 125 shares in the last quarter. Atlas Brown Inc. increased its position in Churchill Downs by 4.7% during the 3rd quarter. Atlas Brown Inc. now owns 3,351 shares of the company’s stock worth $254,000 after purchasing an additional 150 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Churchill Downs by 6.4% in the second quarter. Concurrent Investment Advisors LLC now owns 3,610 shares of the company’s stock valued at $324,000 after buying an additional 217 shares during the period. Finally, Essential Partners LLC raised its holdings in Churchill Downs by 64.7% in the first quarter. Essential Partners LLC now owns 578 shares of the company’s stock valued at $52,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Company Profile

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.