Churchill Downs (NASDAQ:CHDN) Given New $133.00 Price Target at Barclays

Key Points

• Barclays raised its Churchill Downs price target to $133 from $132 and maintained an “overweight” rating, implying roughly 44% upside from the previous close.
• Analyst sentiment remains favorable, with 11 Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with an average price target of $126.50.
• Churchill Downs beat quarterly expectations, reporting EPS of $1.23 versus the $1.13 estimate and revenue of $696 million, up 1.9% year over year.

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its target price lifted by equities researchers at Barclays from $132.00 to $133.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 44.43% from the company's previous close.

Several other equities research analysts have also commented on CHDN. Truist Financial decreased their target price on shares of Churchill Downs from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th. Susquehanna reduced their price target on shares of Churchill Downs from $124.00 to $115.00 and set a "positive" rating on the stock in a report on Wednesday, October 21st. JPMorgan Chase & Co. cut their price target on Churchill Downs from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, October 20th. Royal Bank Of Canada set a $131.00 price target on shares of Churchill Downs in a research note on Tuesday, October 13th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research report on Monday, October 19th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $126.50.

Churchill Downs Stock Up 1.0%

Shares of NASDAQ:CHDN traded up $0.93 during trading on Friday, hitting $92.08. 134,267 shares of the company were exchanged, 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 company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $6.42 billion, a P/E ratio of 14.25, a PEG ratio of 0.87 and a beta of 0.77. The firm's 50 day moving average price is $82.88 and its 200-day moving average price is $88.33.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $695.16 million. During the same period in the prior year, the company earned $1.09 earnings per share. The company's revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that Churchill Downs will post 6.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Churchill Downs in the second quarter worth approximately $29,000. Root Financial Partners LLC boosted its holdings in shares of Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company's stock worth $30,000 after purchasing an additional 305 shares during the period. Twin Tree Management LP acquired a new position in Churchill Downs in the 2nd quarter valued at approximately $36,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Churchill Downs during the 1st quarter valued at $50,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs News Summary

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

Churchill Downs Company Profile

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.

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