Stifel Nicolaus Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $161.00

Churchill Downs (NASDAQ:CHDN) had its target price dropped by equities researchers 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 target would suggest a potential upside of 37.70% from the company’s current price.

A number of other analysts have also recently commented on CHDN. Wells Fargo & Company reduced their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial reiterated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. 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. JMP Securities reiterated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Performance

Shares of CHDN opened at $116.92 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a 50-day simple moving average of $126.93 and a two-hundred day simple moving average of $134.59. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.95 and a beta of 0.95. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, analysts expect that Churchill Downs will post 6.92 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHDN. Norges Bank bought a new position in Churchill Downs during the fourth quarter valued at approximately $74,967,000. Westfield Capital Management Co. LP boosted its stake in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares during the last quarter. Boston Partners boosted its stake in Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after buying an additional 366,283 shares during the last quarter. FMR LLC boosted its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after buying an additional 214,694 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Churchill Downs by 97.9% in the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company’s stock valued at $57,578,000 after purchasing an additional 213,311 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

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.