Churchill Downs (NASDAQ:CHDN) Stock Gets Price Target Trim from Citizens Jmp

Churchill Downs (NASDAQ:CHDN) had its price objective decreased by Citizens Jmp from $137.00 to $131.00 in a report issued on Tuesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Citigroup reiterated a “market outperform” rating on shares of Churchill Downs in a report on Tuesday. Royal Bank Of Canada set a $131.00 price objective on Churchill Downs in a research report on Tuesday. Wolfe Research initiated coverage on Churchill Downs in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price objective for the company. Finally, Mizuho boosted their target price on Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.56.

Churchill Downs Stock Up 2.7%

Shares of Churchill Downs stock opened at $82.15 on Tuesday. The firm’s 50 day moving average price is $83.92 and its 200-day moving average price is $86.77. 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 52-week low of $73.08 and a 52-week high of $118.35. The company has a market cap of $5.73 billion, a P/E ratio of 14.09, a PEG ratio of 0.76 and a beta of 0.77.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting analysts’ consensus estimates of $3.45. The company had revenue of $980.00 million during 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.10 earnings per share. On average, sell-side analysts predict that Churchill Downs will post 7.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHDN. BlackRock Inc. purchased a new stake in Churchill Downs in the second quarter valued at approximately $555,948,000. William Blair Investment Management LLC purchased a new position in Churchill Downs during the 2nd quarter worth approximately $92,340,000. Bank of America Corp DE purchased a new position in Churchill Downs during the 2nd quarter worth approximately $69,099,000. Jupiter Topco LLC acquired a new stake in Churchill Downs during the 2nd quarter valued at approximately $67,787,000. Finally, Balyasny Asset Management L.P. lifted its stake in Churchill Downs by 94.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock valued at $116,100,000 after acquiring an additional 494,553 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.