Churchill Downs (NASDAQ:CHDN) Price Target Raised to $133.00

Churchill Downs (NASDAQ:CHDN) had its price objective upped by equities researchers at Barclays from $132.00 to $133.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 44.43% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research note on Monday, October 19th. Citigroup reiterated a “market outperform” rating on shares of Churchill Downs in a research report on Tuesday, October 13th. Mizuho raised their price objective on shares of Churchill Downs from $125.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday. Wolfe Research assumed coverage on Churchill Downs in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Churchill Downs from $145.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN traded up $0.93 during mid-day trading on Friday, hitting $92.08. The company had a trading volume of 134,267 shares, compared to its average volume of 1,007,440. Churchill Downs has a 12 month low of $73.08 and a 12 month high of $118.35. The firm has a market cap of $6.42 billion, a P/E ratio of 14.25, a PEG ratio of 0.87 and a beta of 0.77. The business’s 50-day simple moving average is $82.88 and its 200-day simple moving average is $88.33. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 28th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. Churchill Downs had a return on equity of 41.89% and a net margin of 15.15%. The business had revenue of $696.00 million during the quarter, compared to analyst estimates of $695.16 million. During the same period in the prior year, the company posted $1.09 earnings per share. Churchill Downs’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Churchill Downs will post 6.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Churchill Downs in the second quarter valued at approximately $555,948,000. William Blair Investment Management LLC bought a new position in shares of Churchill Downs in the second quarter valued at about $92,340,000. Bank of America Corp DE acquired a new position in Churchill Downs in the 2nd quarter valued at about $69,099,000. Jupiter Topco LLC bought a new position in Churchill Downs in the 2nd quarter valued at about $67,787,000. Finally, Apollo Management Holdings L.P. grew its position in shares of Churchill Downs by 4.7% in the second quarter. Apollo Management Holdings L.P. now owns 499,482 shares of the company’s stock valued at $44,774,000 after purchasing an additional 22,500 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Key Headlines Impacting Churchill Downs

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

• Positive Sentiment: Third-quarter earnings exceeded expectations: Churchill Downs reported EPS of $1.23 versus the $1.13 consensus estimate. Revenue reached $696.0 million, slightly above forecasts and up 1.9% year over year, while EPS increased from $1.09 in the prior-year quarter. The results helped sharpen the company’s cash-flow story. Churchill Downs Third-Quarter Results
• Positive Sentiment: Large share repurchase authorized: The board approved a new $750 million buyback program. Repurchases can support EPS and signal management’s confidence in the company’s valuation and long-term cash generation. Churchill Downs Share Repurchase Program
• Positive Sentiment: Analyst and technical support improved: Mizuho raised its price target to $126 from $125 and maintained an “outperform” rating. Shares also broke above their 200-day moving average, a potentially positive technical signal for momentum-oriented investors. Mizuho Churchill Downs Rating
• Positive Sentiment: Growth investment received local approval: Churchill Downs secured approval to relocate and develop its historical racing machine entertainment venue in Henry County, Virginia, supporting potential future regional gaming revenue. Henry County Virginia Venue Approval
• Neutral Sentiment: Churchill Downs increased its annual dividend by 7.1% to $0.469 per share, payable January 5, 2027. The higher payout reinforces shareholder returns but is modest relative to the stock’s valuation and growth profile. Churchill Downs Dividend Declaration
• Negative Sentiment: Stifel lowered its price target to $131, although it retained Churchill Downs on its Select List. The reduction introduces a mildly cautious valuation signal despite the continued favorable recommendation. Stifel Churchill Downs Price Target

About Churchill Downs

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.