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

Churchill Downs (NASDAQ:CHDN) had its target price lifted by Mizuho from $143.00 to $157.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. JMP Securities lifted their price target on Churchill Downs from $156.00 to $158.00 and gave the company a market outperform rating in a research report on Wednesday, July 17th. Truist Financial reissued a buy rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday. Jefferies Financial Group lifted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a report on Thursday, July 11th. Stifel Nicolaus increased their target price on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price target on Churchill Downs from $150.00 to $161.00 and gave the stock an overweight rating in a research note on Friday. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Churchill Downs currently has a consensus rating of Moderate Buy and an average price target of $155.60.

Churchill Downs Price Performance

CHDN stock opened at $145.00 on Friday. The firm has a 50 day moving average of $137.69 and a 200-day moving average of $128.28. The firm has a market capitalization of $10.66 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.24 earnings per share. As a group, sell-side analysts predict that Churchill Downs will post 6.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its position in Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $39,000. Central Pacific Bank Trust Division bought a new position in shares of Churchill Downs in the first quarter worth approximately $44,000. Vestor Capital LLC purchased a new position in shares of Churchill Downs in the fourth quarter worth $45,000. Finally, CWM LLC raised its holdings in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.