Stifel Nicolaus Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price target lowered by Stifel Nicolaus from $164.00 to $161.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 36.37% from the stock’s previous close.

Several other research firms have also issued reports on CHDN. Wells Fargo & Company dropped their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Truist Financial reissued a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho lowered their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Trading Down 0.8 %

NASDAQ CHDN opened at $118.07 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a market capitalization of $8.68 billion, a PE ratio of 20.75, a P/E/G ratio of 2.96 and a beta of 0.95. The stock has a 50-day simple moving average of $127.31 and a 200 day simple moving average of $134.67.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 44.76%. Research analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of CHDN. Norges Bank bought a new stake in Churchill Downs in the fourth quarter worth approximately $74,967,000. Westfield Capital Management Co. LP increased its stake in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Boston Partners lifted its position in shares of Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after acquiring an additional 366,283 shares during the period. FMR LLC boosted its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock worth $479,687,000 after acquiring an additional 214,694 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Churchill Downs by 97.9% during the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company’s stock worth $57,578,000 after acquiring an additional 213,311 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Company Profile

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; casino gaming; and Terre Haute Casino Resort.