Mizuho Trims Churchill Downs (NASDAQ:CHDN) Target Price to $151.00

Churchill Downs (NASDAQ:CHDN) had its price objective decreased by stock analysts at Mizuho from $157.00 to $151.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 11.45% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group upped their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 11th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Macquarie upped their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial restated a “buy” rating and set a $166.00 price objective (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Churchill Downs Price Performance

Churchill Downs stock opened at $135.49 on Tuesday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company’s 50 day simple moving average is $137.79 and its 200-day simple moving average is $135.49. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the previous year, the business posted $2.24 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Churchill Downs will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

A number of large investors have recently added to or reduced their stakes in CHDN. Goldman Sachs Group Inc. grew its stake in Churchill Downs by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock valued at $20,425,000 after acquiring an additional 9,354 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Churchill Downs by 3.7% during the 1st quarter. Park Avenue Securities LLC now owns 8,394 shares of the company’s stock worth $1,039,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Churchill Downs by 80.5% during the 1st quarter. Independence Bank of Kentucky now owns 12,254 shares of the company’s stock worth $1,516,000 after purchasing an additional 5,464 shares during the last quarter. Guidance Capital Inc. boosted its stake in shares of Churchill Downs by 2.5% during the 1st quarter. Guidance Capital Inc. now owns 11,768 shares of the company’s stock worth $1,438,000 after purchasing an additional 284 shares during the last quarter. Finally, Mirador Capital Partners LP acquired a new stake in shares of Churchill Downs during the 1st quarter worth about $272,000. 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.