Churchill Downs (NASDAQ:CHDN) Price Target Cut to $136.00 by Analysts at Susquehanna

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its target price cut by equities research analysts at Susquehanna from $150.00 to $136.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's target price indicates a potential upside of 57.37% from the company's previous close.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus dropped their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Barclays assumed coverage on Churchill Downs in a research report on Friday, April 11th. They issued an "overweight" rating and a $125.00 target price for the company. Wells Fargo & Company cut their price target on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. StockNews.com downgraded Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Finally, Mizuho cut their target price on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of "Moderate Buy" and an average target price of $148.10.

Churchill Downs Price Performance

Shares of CHDN stock traded down $1.57 on Tuesday, hitting $86.42. 489,410 shares of the company's stock were exchanged, compared to its average volume of 524,070. The company has a 50 day moving average of $109.03 and a 200 day moving average of $125.42. The stock has a market cap of $6.35 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. 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 has a 12 month low of $85.61 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.09). The company had revenue of $642.60 million during the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, equities research analysts predict that Churchill Downs will post 6.92 EPS for the current year.

Churchill Downs declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently bought and sold shares of CHDN. Louisiana State Employees Retirement System boosted its position in shares of Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock worth $2,724,000 after purchasing an additional 100 shares in the last quarter. Utah Retirement Systems grew its stake in Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock valued at $507,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. increased its holdings in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. Arizona State Retirement System raised its position in shares of Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock worth $2,559,000 after purchasing an additional 116 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock worth $301,000 after purchasing an additional 120 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Company Profile

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.