Citizens Jmp Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $137.00

Churchill Downs (NASDAQ:CHDN) had its price objective dropped by investment analysts at Citizens Jmp from $149.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 65.68% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CHDN. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday. Mizuho lifted their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company cut their price target on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Susquehanna raised their price objective on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.00.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $82.69 on Friday. The stock’s fifty day moving average is $86.83 and its 200 day moving average is $90.46. Churchill Downs has a fifty-two week low of $79.40 and a fifty-two week high of $118.35. The firm has a market capitalization 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 quick ratio of 0.54 and a current ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.45. The company had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 45.12% and a net margin of 13.82%.Churchill Downs’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $3.10 earnings per share. On average, sell-side analysts anticipate that Churchill Downs will post 7.14 earnings per share for the current year.

Institutional Trading of Churchill Downs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Churchill Downs by 29.8% during the first quarter. AQR Capital Management LLC now owns 3,415 shares of the company’s stock valued at $373,000 after purchasing an additional 784 shares during the period. Goldman Sachs Group Inc. increased its stake in Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company’s stock worth $53,675,000 after buying an additional 121,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Churchill Downs by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,800 shares of the company’s stock valued at $25,080,000 after buying an additional 15,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Churchill Downs in the 2nd quarter valued at about $229,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Trending Headlines about Churchill Downs

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.