Churchill Downs (NASDAQ:CHDN) Given New $158.00 Price Target at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its target price reduced by equities research analysts at Wells Fargo & Company from $165.00 to $158.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 32.72% from the stock’s current price.

CHDN has been the subject of several other reports. Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.25.

Churchill Downs Price Performance

CHDN stock opened at $119.05 on Friday. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21. The firm has a market capitalization of $8.75 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.96 and a beta of 0.95. 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 business’s 50-day moving average is $127.31 and its two-hundred day moving average is $134.67.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 44.76%. The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHDN. Vanguard Group Inc. grew its position in shares of Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after acquiring an additional 107,737 shares during the last quarter. FMR LLC boosted its stake in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock worth $479,687,000 after purchasing an additional 214,694 shares during the period. State Street Corp grew its position in Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares during the last quarter. Boston Partners increased its stake in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after buying an additional 77,213 shares during the last quarter. Institutional investors and hedge funds 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.