Analysts Set Churchill Downs, Incorporated (NASDAQ:CHDN) Price Target at $138.50

Churchill Downs, Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $138.50.

Several analysts have recently commented on the company. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Wells Fargo & Company cut their target price on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Truist Financial set a $145.00 price target on Churchill Downs in a research report on Friday, June 12th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Mizuho lifted their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $86.50 on Friday. Churchill Downs has a twelve month low of $80.24 and a twelve month high of $118.35. The stock’s 50 day moving average is $86.77 and its 200-day moving average is $91.12. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.56 and a beta of 0.67.

Hedge Funds Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Churchill Downs in the third quarter worth $25,000. Parkside Financial Bank & Trust grew its stake in Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares during the period. Root Financial Partners LLC increased its position in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Churchill Downs during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.