Churchill Downs (NASDAQ:CHDN) PT Raised to $168.00 at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN - Free Report) had its price target boosted by Wells Fargo & Company from $161.00 to $168.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on CHDN. Truist Financial reissued a "buy" rating and set a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Mizuho increased their price target on Churchill Downs from $143.00 to $157.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Macquarie increased their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and a consensus target price of $159.11.

Churchill Downs Stock Performance

Shares of Churchill Downs stock traded up $0.49 on Thursday, hitting $140.60. The stock had a trading volume of 233,489 shares, compared to its average volume of 426,839. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $146.64. The business's 50 day moving average is $137.70 and its two-hundred day moving average is $135.23. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 earnings per share. Analysts forecast that Churchill Downs will post 6.13 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company's stock valued at $104,921,000 after acquiring an additional 44,773 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Churchill Downs by 12.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company's stock valued at $52,411,000 after acquiring an additional 47,269 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Churchill Downs by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company's stock worth $20,425,000 after purchasing an additional 9,354 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Churchill Downs by 259.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company's stock worth $2,772,000 after purchasing an additional 14,331 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock worth $27,338,000 after purchasing an additional 193,914 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

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.