Mizuho Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $140.00

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its target price cut by analysts at Mizuho from $148.00 to $140.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 58.46% from the company's current price.

A number of other analysts also recently issued reports on the company. Barclays initiated coverage on Churchill Downs in a research report on Friday, April 11th. They issued an "overweight" rating and a $125.00 target price on the stock. StockNews.com cut Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Stifel Nicolaus decreased their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $144.80.

Churchill Downs Stock Up 0.4 %

NASDAQ:CHDN traded up $0.36 during trading hours on Tuesday, reaching $88.35. 2,226,600 shares of the stock were exchanged, compared to its average volume of 527,724. The stock has a market cap of $6.49 billion, a PE ratio of 15.55, a PEG ratio of 2.95 and a beta of 0.86. Churchill Downs has a twelve month low of $85.58 and a twelve month high of $150.21. The firm has a 50 day moving average of $108.37 and a 200 day moving average of $125.07. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. On average, equities analysts expect that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Churchill Downs

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Churchill Downs by 59.2% in the 3rd quarter. Barclays PLC now owns 29,584 shares of the company's stock valued at $4,000,000 after acquiring an additional 11,006 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Churchill Downs in the third quarter worth $27,000. Tidal Investments LLC raised its stake in Churchill Downs by 295.2% in the third quarter. Tidal Investments LLC now owns 6,988 shares of the company's stock valued at $945,000 after purchasing an additional 5,220 shares in the last quarter. Synovus Financial Corp lifted its position in Churchill Downs by 3.0% during the third quarter. Synovus Financial Corp now owns 10,381 shares of the company's stock worth $1,404,000 after purchasing an additional 303 shares during the period. Finally, Franklin Resources Inc. grew its stake in Churchill Downs by 6.6% during the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company's stock worth $27,338,000 after buying an additional 12,156 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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.