Wells Fargo & Company Raises Churchill Downs (NASDAQ:CHDN) Price Target to $161.00

Churchill Downs (NASDAQ:CHDN) had its price objective upped by equities research analysts at Wells Fargo & Company from $150.00 to $161.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 16.70% from the stock’s previous close.

A number of other research firms have also weighed in on CHDN. Truist Financial increased their price objective on shares of Churchill Downs from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho raised their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.33.

Churchill Downs Stock Performance

Churchill Downs stock opened at $137.96 on Friday. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64. The firm has a market capitalization of $10.14 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The company’s 50-day moving average is $137.32 and its 200 day moving average is $127.98.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 49.73%. The company had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the prior year, the company posted $2.24 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts forecast that Churchill Downs will post 6.03 EPS for the current year.

Insider Buying and Selling at Churchill Downs

In other news, Director Paul C. Varga bought 3,800 shares of the stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the purchase, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after acquiring an additional 99 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after buying an additional 105 shares during the period. UMB Bank n.a. raised its holdings in shares of Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after purchasing an additional 107 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Churchill Downs by 5.2% during the fourth quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after purchasing an additional 118 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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; and casino gaming.