Mizuho Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $151.00

Churchill Downs (NASDAQ:CHDN) had its target price decreased by equities researchers at Mizuho from $157.00 to $151.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 12.58% from the stock’s current price.

A number of other equities research analysts have also weighed in on CHDN. Truist Financial reissued a “buy” rating and set a $166.00 target price (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, Macquarie lifted their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.00.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $134.13 on Tuesday. The company’s 50 day moving average price is $137.73 and its two-hundred day moving average price is $135.69. The firm has a market capitalization of $9.86 billion, a P/E ratio of 29.87, a P/E/G 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 has a fifty-two week low of $106.45 and a fifty-two week high of $146.64.

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. The business had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS. On average, equities analysts forecast that Churchill Downs will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently modified their holdings of CHDN. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the 2nd quarter valued at $42,000. Central Pacific Bank Trust Division acquired a new position in shares of Churchill Downs during the first quarter valued at about $44,000. CWM LLC boosted its position in shares of Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after buying an additional 255 shares during the period. Finally, Bank & Trust Co bought a new stake in Churchill Downs in the 2nd quarter valued at about $84,000. 82.59% of the stock is currently owned by 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.