Wells Fargo & Company Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price objective lowered by equities research analysts at Wells Fargo & Company from $165.00 to $158.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 32.72% from the company’s current price.

A number of other brokerages also recently issued reports on CHDN. 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 note on Wednesday. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.25.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $119.05 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 company has a market cap of $8.75 billion, a PE ratio of 20.96, a P/E/G ratio of 2.96 and a beta of 0.95. The stock has a fifty day moving average price of $127.31 and a 200 day moving average price of $134.67. Churchill Downs has a 1-year low of $111.10 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results 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 firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. Sell-side analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Churchill Downs by 2.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 210,639 shares of the company’s stock worth $28,129,000 after purchasing an additional 4,036 shares in the last quarter. Teza Capital Management LLC grew its holdings in Churchill Downs by 53.7% during the 4th quarter. Teza Capital Management LLC now owns 7,056 shares of the company’s stock valued at $942,000 after buying an additional 2,466 shares during the last quarter. Strategic Wealth Partners Ltd. increased its position in Churchill Downs by 6.5% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 11,300 shares of the company’s stock worth $1,391,000 after buying an additional 688 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of Churchill Downs by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 177,193 shares of the company’s stock worth $23,662,000 after acquiring an additional 5,919 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Churchill Downs by 9.1% in the fourth quarter. Royal Bank of Canada now owns 103,402 shares of the company’s stock valued at $13,809,000 after acquiring an additional 8,606 shares in the last quarter. 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.