Wells Fargo & Company Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $117.00

Churchill Downs (NASDAQ:CHDN) had its price objective dropped by equities research analysts at Wells Fargo & Company from $120.00 to $117.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 37.99% from the stock’s previous close.

Several other brokerages have also commented on CHDN. Citizens Jmp dropped their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research note on Friday. Susquehanna lifted their price objective on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a research note on Friday. Mizuho boosted their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Truist Financial set a $145.00 target price on shares of Churchill Downs in a research report on Friday, June 12th. Finally, Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

Churchill Downs Trading Up 2.5%

Shares of CHDN stock traded up $2.10 on Friday, reaching $84.79. 153,538 shares of the stock were exchanged, compared to its average volume of 970,057. The stock has a market cap of $5.91 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.57 and a beta of 0.67. 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 two-hundred day moving average of $90.46. Churchill Downs has a 1-year low of $79.40 and a 1-year high of $118.35.

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

Institutional Trading of Churchill Downs

Several large investors have recently added to or reduced their stakes in CHDN. Geneos Wealth Management Inc. raised its position in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Churchill Downs during the third quarter worth about $25,000. Parkside Financial Bank & Trust boosted its position in shares of Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares during the period. Root Financial Partners LLC boosted its position 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 worth $30,000 after buying an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Churchill Downs in the fourth quarter valued at about $38,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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.