Churchill Downs (NASDAQ:CHDN) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Churchill Downs (NASDAQ:CHDN) had its price objective raised by research analysts at Citizens Jmp from $146.00 to $149.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 46.73% from the company’s previous close.

CHDN has been the subject of a number of other reports. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a report on Friday. Wells Fargo & Company reissued an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Trading Up 3.7%

Shares of CHDN opened at $101.55 on Friday. Churchill Downs has a 1 year low of $80.24 and a 1 year high of $118.46. The company has a current ratio of 0.54, a quick ratio of 0.60 and a debt-to-equity ratio of 4.44. The stock has a 50 day simple moving average of $89.51 and a 200-day simple moving average of $98.83. The stock has a market cap of $7.08 billion, a PE ratio of 18.81, a PEG ratio of 1.47 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. During the same period in the prior year, the firm posted $1.07 EPS. Churchill Downs’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts predict that Churchill Downs will post 6.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHDN. Root Financial Partners LLC boosted its position in Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after buying an additional 305 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Churchill Downs in the 1st quarter valued at $530,000. Skylands Capital LLC bought a new position in Churchill Downs in the 1st quarter valued at $6,594,000. Pictet Asset Management Holding SA boosted its position in Churchill Downs by 4.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 10,194 shares of the company’s stock valued at $916,000 after buying an additional 447 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Churchill Downs in the 1st quarter valued at $1,725,000. 82.59% of the stock is currently owned by institutional investors.

Trending Headlines about Churchill Downs

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Q1 beat — CHDN reported $1.21 EPS vs. consensus ~$1.06 and revenue roughly in line/ slightly above estimates; revenue rose year-over-year, supporting the upside reaction to results. Read More.
• Positive Sentiment: Analyst price-target lifts — Mizuho bumped its target to $155 (outperform) and Citizens Jmp raised theirs to $149, both implying substantial upside and likely contributing to buying interest. Read More.
• Positive Sentiment: Strategic acquisition — Churchill Downs is acquiring IP rights to the Preakness Stakes for $85M, expanding its control of marquee racing content and creating new licensing/monetization opportunities beyond the Kentucky Derby. Read More.
• Positive Sentiment: Market narrative shift — recent coverage highlights growth in non-Derby revenue streams (HRM growth) and management’s “bet on growth” after a record quarter, supporting a re-rating of the stock. Read More.
• Neutral Sentiment: Investor materials available — the company’s Q1 earnings call transcript and summaries are published for those wanting detail on guidance, margin drivers and segment performance; useful for modeling but not new headlines. Read More.
• Neutral Sentiment: Short-interest data appears anomalous (reported as zero / NaN change) and is not a meaningful signal for today’s move. No clear increase in visible short pressure. (Data entry: short interest report)

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.