Wells Fargo & Company Increases Churchill Downs (NASDAQ:CHDN) Price Target to $168.00

Churchill Downs (NASDAQ:CHDN) had its target price hoisted by Wells Fargo & Company from $161.00 to $168.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 19.82% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $166.00 target price (up from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Macquarie upped their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a 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, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.11.

Churchill Downs Stock Performance

CHDN traded up $0.10 during trading on Thursday, reaching $140.21. 87,469 shares of the company’s stock were exchanged, compared to its average volume of 426,079. The company has a market capitalization of $10.31 billion, a P/E ratio of 31.21, a PEG ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The business has a 50 day moving average price of $137.59 and a 200 day moving average price of $135.19. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating 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 business had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the previous year, the business earned $2.24 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that Churchill Downs will post 6.13 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

Hedge funds have recently modified their holdings of the stock. Kimelman & Baird LLC bought a new position in Churchill Downs in the second quarter valued at about $42,000. Central Pacific Bank Trust Division acquired a new position in Churchill Downs during the 1st quarter valued at about $44,000. CWM LLC boosted its stake in shares of Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. grew its position in shares of Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares during the period. Finally, Bank & Trust Co bought a new stake in shares of Churchill Downs during the second quarter worth approximately $84,000. 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.