Churchill Downs (NASDAQ:CHDN) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Churchill Downs (NASDAQ:CHDN) had its target price trimmed by JPMorgan Chase & Co. from $123.00 to $118.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective (up from $117.00) on shares of Churchill Downs in a research note on Monday. Mizuho lifted their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada set a $131.00 price target on shares of Churchill Downs in a report on Tuesday, October 13th. Wolfe Research started coverage on shares of Churchill Downs in a report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.80.

Churchill Downs Trading Up 2.0%

Shares of NASDAQ CHDN opened at $84.45 on Tuesday. Churchill Downs has a one year low of $73.08 and a one year high of $118.35. The firm has a market capitalization of $5.89 billion, a PE ratio of 14.49, a PEG ratio of 0.87 and a beta of 0.77. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06. The business has a 50-day moving average price of $83.39 and a two-hundred day moving average price of $86.56.

Churchill Downs (NASDAQ:CHDN) last issued 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. The company had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 EPS. As a group, analysts predict that Churchill Downs will post 7.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several large investors have recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Churchill Downs during the 2nd quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Churchill Downs during the second quarter valued at approximately $29,000. Root Financial Partners LLC raised its stake in shares of Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after purchasing an additional 305 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Churchill Downs in the second quarter valued at $36,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Churchill Downs in the first quarter valued at $50,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

About Churchill Downs

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.