Churchill Downs (NASDAQ:CHDN) Given New $165.00 Price Target at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $168.00 to $165.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 34.49% from the company's previous close.

A number of other research analysts have also recently issued reports on CHDN. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Truist Financial reaffirmed a "buy" rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. Finally, JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus target price of $160.50.

Churchill Downs Price Performance

NASDAQ CHDN traded up $1.79 on Monday, reaching $122.69. 289,083 shares of the company's stock traded hands, compared to its average volume of 493,107. The stock has a market cap of $9.02 billion, a PE ratio of 22.37, a P/E/G ratio of 3.05 and a beta of 0.95. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The stock has a 50-day simple moving average of $129.42 and a 200 day simple moving average of $135.47. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Institutional Trading of Churchill Downs

Several large investors have recently added to or reduced their stakes in CHDN. AQR Capital Management LLC purchased a new stake in shares of Churchill Downs in the 2nd quarter worth about $209,000. Creative Planning lifted its holdings in Churchill Downs by 14.3% in the second quarter. Creative Planning now owns 4,035 shares of the company's stock worth $563,000 after buying an additional 504 shares during the period. GAMMA Investing LLC boosted its position in Churchill Downs by 42.8% during the 3rd quarter. GAMMA Investing LLC now owns 874 shares of the company's stock valued at $118,000 after acquiring an additional 262 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Churchill Downs during the 3rd quarter worth approximately $245,000. Finally, UMB Bank n.a. grew its holdings in shares of Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company's stock worth $76,000 after acquiring an additional 255 shares during the period. 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; casino gaming; and Terre Haute Casino Resort.