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

Churchill Downs (NASDAQ:CHDN) had its price target lowered by Truist Financial from $145.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 69.00% from the stock’s current price.

A number of other brokerages have also recently commented on CHDN. Royal Bank Of Canada set a $131.00 price target on shares of Churchill Downs in a research note on Tuesday, October 13th. Mizuho upped their price objective on Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Wolfe Research initiated coverage on Churchill Downs in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price objective on the stock. Susquehanna increased their target price on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Finally, Citizens Jmp cut their target price on Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 13th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $134.33.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN traded up $0.87 during midday trading on Tuesday, reaching $82.84. 243,792 shares of the company’s stock were exchanged, compared to its average volume of 1,003,729. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50 day simple moving average is $83.71 and its two-hundred day simple moving average is $86.68. Churchill Downs has a 12 month low of $73.08 and a 12 month high of $118.35. The firm has a market capitalization of $5.77 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.78 and a beta of 0.77.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $977.38 million. During the same quarter in the previous year, the firm posted $3.10 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that Churchill Downs will post 7.05 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Several large investors have recently added to or reduced their stakes in CHDN. New Wave Wealth Advisors LLC acquired a new stake in shares of Churchill Downs during the third quarter worth approximately $735,000. Community Trust & Investment Co. boosted its holdings in shares of Churchill Downs by 0.8% in the 3rd quarter. Community Trust & Investment Co. now owns 204,786 shares of the company’s stock worth $15,498,000 after acquiring an additional 1,621 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Churchill Downs by 49.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 87,144 shares of the company’s stock worth $6,595,000 after acquiring an additional 29,005 shares in the last quarter. Atlas Brown Inc. boosted its holdings in shares of Churchill Downs by 4.7% in the 3rd quarter. Atlas Brown Inc. now owns 3,351 shares of the company’s stock worth $254,000 after acquiring an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Churchill Downs by 19.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,383 shares of the company’s stock worth $105,000 after acquiring an additional 227 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

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.