Churchill Downs (NASDAQ:CHDN) Price Target Raised to $124.00 at Susquehanna

Churchill Downs (NASDAQ:CHDN) had its price objective raised by Susquehanna from $121.00 to $124.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a positive rating on the stock.

CHDN has been the subject of a number of other reports. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a report on Friday, June 12th. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Citizens Jmp raised their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.62.

Churchill Downs Trading Up 1.9%

CHDN stock opened at $84.30 on Friday. The business has a fifty day moving average price of $86.81 and a 200 day moving average price of $90.41. Churchill Downs has a fifty-two week low of $79.40 and a fifty-two week high of $118.35. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.54.

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, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.10 EPS. Analysts expect that Churchill Downs will post 7.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHDN. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Churchill Downs during the third quarter worth approximately $25,000. Parkside Financial Bank & Trust raised its stake in shares of Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after buying an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs in the fourth quarter valued at approximately $38,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Key Churchill Downs News

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
• Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
• Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
• Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
• Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.