Susquehanna Issues Positive Forecast for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price target increased by analysts at Susquehanna from $121.00 to $124.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 49.96% from the company’s previous close.

A number of other research analysts have also recently commented on CHDN. Citizens Jmp increased their target price on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company dropped their price target on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Truist Financial set a $145.00 price objective on Churchill Downs in a report on Friday, June 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Trading Down 6.6%

Shares of Churchill Downs stock opened at $82.69 on Friday. Churchill Downs has a 1 year low of $79.40 and a 1 year high of $118.35. The firm has a market cap of $5.76 billion, a PE ratio of 14.18, a PEG ratio of 0.57 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50 day simple moving average of $86.83 and a two-hundred day simple moving average of $90.46.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 45.12%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.10 EPS. Analysts expect that Churchill Downs will post 7.14 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Several hedge funds have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC purchased a new stake in Churchill Downs during the third quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Churchill Downs during the 4th quarter worth approximately $38,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.