Stifel Nicolaus Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price target cut by investment analysts at Stifel Nicolaus from $164.00 to $161.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 36.37% from the company’s current price.

CHDN has been the subject of a number of other research reports. Wells Fargo & Company cut their target price 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. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Stock Down 0.8 %

CHDN opened at $118.07 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $8.68 billion, a P/E ratio of 20.75, a PEG ratio of 2.96 and a beta of 0.95. The company’s 50-day moving average is $127.31 and its 200 day moving average is $134.67. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) 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 company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. Research analysts expect that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the third quarter worth about $27,000. Fortitude Family Office LLC boosted its position in Churchill Downs by 2,733.3% during the 4th 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 bought a new position in shares of Churchill Downs in the 4th quarter worth approximately $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $55,000. 82.59% of the stock is owned by hedge funds and other 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.