Churchill Downs (NASDAQ:CHDN) Price Target Cut to $137.00 by Analysts at Citizens Jmp

Churchill Downs (NASDAQ:CHDN) had its price target lowered by research analysts at Citizens Jmp from $149.00 to $137.00 in a report released on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 65.68% from the company’s previous close.

A number of other equities research analysts also recently commented on CHDN. Mizuho lifted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company decreased their target price on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.00.

Churchill Downs Price Performance

Shares of CHDN opened at $82.69 on Friday. The company has a market capitalization of $5.76 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.57 and a beta of 0.67. Churchill Downs has a twelve month low of $79.40 and a twelve month high of $118.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm has a 50 day moving average of $86.83 and a 200 day moving average of $90.46.

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

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Churchill Downs during the fourth quarter valued at about $90,529,000. AQR Capital Management LLC increased its position 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 worth $79,352,000 after purchasing an additional 784,591 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Churchill Downs by 94.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after purchasing an additional 494,553 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 worth $133,525,000 after buying an additional 452,716 shares in the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of Churchill Downs during the 1st quarter valued at about $35,768,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs News Roundup

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Analyst support increased. Susquehanna raised its price target from $121 to $124 and assigned a “Positive” rating, implying substantial upside from the recent trading level. Benzinga
• Positive Sentiment: Second-quarter revenue grew. CHDN reported $980 million in revenue, up 4.9% year over year and modestly ahead of the roughly $977 million consensus. Adjusted earnings were $3.45 per share, up from $3.10 a year earlier and in line with the company-referenced consensus, though below Zacks’ $3.51 estimate. Second-Quarter Results
• Positive Sentiment: United Tote ownership is increasing. Churchill Downs agreed to buy NYRA’s 49% stake in United Tote, giving it full ownership of the pari-mutuel wagering technology and services business. The deal could strengthen operational control and create additional long-term growth opportunities. United Tote Acquisition
• Neutral Sentiment: Large Churchill Downs projects remain underway. The company is investing approximately $285 million in the Victory Run development ahead of the 2028 Kentucky Derby, alongside expanded club and infield seating projects. These investments may support future event revenue but increase near-term capital requirements. Victory Run Buildout
• Neutral Sentiment: CHDN is reviewing the sale of nine regional casinos. Asset sales could generate cash and sharpen the company’s portfolio, but proceeds, timing and the effect on future earnings remain uncertain. Strategic Gaming Asset Review
• Negative Sentiment: The earnings reaction was unfavorable. Despite revenue growth and earnings meeting one consensus measure, investors appear to have viewed the quarter and conference-call commentary as insufficient against high Derby-related expectations. Concerns about margins, guidance or the pace of growth likely contributed to the selloff.

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.