Churchill Downs (NASDAQ:CHDN) Price Target Cut to $161.00 by Analysts at Stifel Nicolaus

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price target reduced by investment analysts at Stifel Nicolaus from $164.00 to $161.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 40.88% from the company's previous close.

A number of other analysts also recently weighed in on CHDN. Mizuho cut their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut 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. JMP Securities reissued a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Truist Financial reaffirmed a "buy" rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.38.

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Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded down $0.53 on Friday, hitting $114.28. The company had a trading volume of 733,829 shares, compared to its average volume of 576,029. The stock has a 50 day moving average price of $126.53 and a 200 day moving average price of $134.47. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.95 and a beta of 0.95. Churchill Downs has a 1-year low of $111.10 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Analysts expect that Churchill Downs will post 6.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHDN. Blue Trust Inc. grew its stake in shares of Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the 4th quarter valued at $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs in the fourth quarter worth about $55,000. 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.