Churchill Downs (NASDAQ:CHDN) Price Target Increased to $168.00 by Analysts at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its target price hoisted by Wells Fargo & Company from $161.00 to $168.00 in a research note issued to investors on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently commented on CHDN. Jefferies Financial Group boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial reissued a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Stifel Nicolaus upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Mizuho upped their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.75.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $138.01 on Thursday. The company has a 50 day moving average price of $137.79 and a 200-day moving average price of $135.41. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Churchill Downs will post 6.13 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after purchasing an additional 44,773 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Churchill Downs by 12.6% during the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after buying an additional 47,269 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Churchill Downs by 6.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock worth $20,425,000 after buying an additional 9,354 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Churchill Downs by 259.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after buying an additional 14,331 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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.