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

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

Other equities analysts also recently issued reports about the company. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday. Susquehanna lifted their price objective on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday. Finally, Citizens Jmp reduced 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. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.88.

Churchill Downs Stock Performance

CHDN opened at $84.30 on Monday. 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 quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. Churchill Downs has a 12-month low of $79.40 and a 12-month high of $118.35. The firm has a market capitalization of $5.88 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. The business 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 42.16%. Churchill Downs’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.10 earnings per share. On average, equities analysts forecast that Churchill Downs will post 7.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs in the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. lifted its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Parkside Financial Bank & Trust increased 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 worth $29,000 after acquiring an additional 191 shares during the last quarter. Root Financial Partners LLC grew its holdings 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 during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Churchill Downs in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.