Susquehanna Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $136.00

Churchill Downs (NASDAQ:CHDN) had its price target decreased by analysts at Susquehanna from $150.00 to $136.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target would suggest a potential upside of 29.47% from the company’s current price.

Several other analysts have also recently issued reports on the company. Mizuho dropped their target price on Churchill Downs from $148.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Barclays initiated coverage on shares of Churchill Downs in a report on Friday, April 11th. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.90.

Churchill Downs Stock Up 2.0 %

CHDN stock opened at $105.04 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs has a 52 week low of $96.67 and a 52 week high of $150.21. The stock has a market capitalization of $7.72 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.95 and a beta of 0.86. The firm has a 50-day simple moving average of $109.71 and a 200-day simple moving average of $125.76.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.09). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities analysts forecast that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Churchill Downs

Several institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in shares of Churchill Downs by 0.5% during the fourth 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 during the last quarter. Utah Retirement Systems grew its position in shares of Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock worth $507,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 103 shares during the period. Arizona State Retirement System grew its position in Churchill Downs by 0.6% during the 4th 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 last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.