Churchill Downs (NASDAQ:CHDN) Price Target Raised to $157.00 at Mizuho

Churchill Downs (NASDAQ:CHDN) had its price target upped by research analysts at Mizuho from $155.00 to $157.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 86.24% from the stock’s previous close.

A number of other research firms have also weighed in on CHDN. Citizens Jmp decreased their target price on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a report on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Wells Fargo & Company lowered their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research report on Friday. Finally, Truist Financial set a $145.00 target price on Churchill Downs in a research note on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.88.

Churchill Downs Price Performance

Shares of CHDN opened at $84.30 on Monday. Churchill Downs has a 12 month low of $79.40 and a 12 month high of $118.35. 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 stock’s 50-day moving average price is $86.81 and its two-hundred day moving average price is $90.30. The company has a market capitalization of $5.88 billion, a PE ratio of 14.46, a PEG ratio of 0.55 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting analysts’ consensus estimates of $3.45. The firm had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.10 earnings per share. On average, analysts anticipate that Churchill Downs will post 7.1 EPS for the current year.

Institutional Trading of Churchill Downs

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Churchill Downs during the fourth quarter worth approximately $90,529,000. AQR Capital Management LLC boosted its holdings in Churchill Downs by 22,974.8% in the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Churchill Downs by 94.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after buying an additional 494,553 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Churchill Downs by 49.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock valued at $133,525,000 after purchasing an additional 452,716 shares in the last quarter. Finally, Vestor Capital LLC bought a new stake in shares of Churchill Downs in the 1st quarter valued at approximately $35,768,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

About Churchill Downs

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.