Churchill Downs (NASDAQ:CHDN) Given New $131.00 Price Target at Citizens Jmp

Churchill Downs (NASDAQ:CHDN) had its price objective dropped by analysts at Citizens Jmp from $137.00 to $131.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 62.73% from the stock’s previous close.

Several other analysts have also recently issued reports on CHDN. Royal Bank Of Canada set a $131.00 price objective on Churchill Downs in a research note on Tuesday. Wolfe Research initiated coverage on Churchill Downs in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 target price for the company. Citigroup restated a “market outperform” rating on shares of Churchill Downs in a report on Tuesday. Weiss Ratings upgraded Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Finally, Mizuho increased their price target on Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.90.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $80.50 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. Churchill Downs has a 52 week low of $73.08 and a 52 week high of $118.35. The stock has a market capitalization of $5.61 billion, a PE ratio of 13.81, a P/E/G ratio of 0.76 and a beta of 0.77. The firm has a 50 day moving average of $84.22 and a two-hundred day moving average of $86.88.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. During the same quarter in the previous year, the firm posted $3.10 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Churchill Downs will post 7.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHDN. BlackRock Inc. acquired a new stake in shares of Churchill Downs in the 2nd quarter valued at $555,948,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Churchill Downs by 0.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after purchasing an additional 7,687 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs during the 2nd quarter worth $92,340,000. Balyasny Asset Management L.P. grew its stake in shares of Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after purchasing an additional 494,553 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Churchill Downs during the second quarter worth $69,099,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.