JPMorgan Chase & Co. Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its target price cut by analysts at JPMorgan Chase & Co. from $130.00 to $128.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 41.39% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Susquehanna lifted their target price on Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Macquarie lifted their target price on Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Truist Financial dropped their target price on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Finally, Barclays lifted their target price on Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.70.

Churchill Downs Trading Up 4.4%

Shares of Churchill Downs stock opened at $90.53 on Thursday. The business has a fifty day simple moving average of $97.91 and a two-hundred day simple moving average of $99.55. Churchill Downs has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.62 and a beta of 0.83. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The company had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. During the same quarter last year, the firm earned $2.89 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Churchill Downs will post 6.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in Churchill Downs by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company’s stock valued at $34,073,000 after acquiring an additional 11,460 shares during the last quarter. Aurora Investment Counsel bought a new position in Churchill Downs in the first quarter valued at about $2,675,000. Teacher Retirement System of Texas grew its position in Churchill Downs by 19.3% in the first quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company’s stock valued at $1,218,000 after acquiring an additional 1,774 shares during the last quarter. Hunter Associates Investment Management LLC grew its position in Churchill Downs by 29.1% in the first quarter. Hunter Associates Investment Management LLC now owns 32,428 shares of the company’s stock valued at $3,600,000 after acquiring an additional 7,306 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Churchill Downs in the first quarter valued at about $8,677,000. 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.