Churchill Downs (NASDAQ:CHDN) Stock Price Target Lowered at Susquehanna

Churchill Downs (NASDAQ:CHDN) had its target price decreased by Susquehanna from $124.00 to $115.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 38.50% from the stock’s current price.

A number of other analysts have also recently commented on CHDN. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective (up from $117.00) on shares of Churchill Downs in a research report on Monday. Truist Financial lowered their price objective on Churchill Downs from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings upgraded Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Finally, Citizens Jmp reduced their target price on shares of Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating for the company in a report on Tuesday, October 13th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.80.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $83.03 on Wednesday. Churchill Downs has a one year low of $73.08 and a one year high of $118.35. The stock’s fifty day moving average is $83.59 and its 200 day moving average is $86.64. The stock has a market cap of $5.79 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.79 and a beta of 0.77. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting the consensus estimate of $3.45. The company had revenue of $980.00 million for 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%. Churchill Downs’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.10 earnings per share. Sell-side analysts anticipate that Churchill Downs will post 7.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kimelman & Baird LLC bought a new position in Churchill Downs in the 2nd quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs in the 2nd quarter worth $29,000. Root Financial Partners LLC raised its holdings in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Twin Tree Management LP bought a new stake in Churchill Downs during the second quarter valued at about $36,000. Finally, NewEdge Advisors LLC bought a new stake in Churchill Downs during the first quarter valued at about $50,000. Hedge funds and other institutional investors 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.