Wells Fargo & Company Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $158.00

Churchill Downs (NASDAQ:CHDN) had its price objective cut by equities researchers at Wells Fargo & Company from $165.00 to $158.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 35.14% from the stock’s previous close.

A number of other analysts have also issued reports on CHDN. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho decreased their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Stock Performance

Shares of CHDN opened at $116.92 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 20.58, a PEG ratio of 2.95 and a beta of 0.95. The stock’s fifty day moving average price is $126.93 and its two-hundred day moving average price is $134.59. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, equities research analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHDN. Blue Trust Inc. grew its position in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs in the 3rd quarter worth about $27,000. Fortitude Family Office LLC boosted its holdings in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Churchill Downs in the 4th quarter worth about $55,000. Finally, R Squared Ltd purchased a new position in shares of Churchill Downs in the 4th quarter worth about $55,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.