Citizens Jmp Increases Churchill Downs (NASDAQ:CHDN) Price Target to $149.00

Key Points

• Citizens Jmp raised its price target on Churchill Downs to $149 (from $146) and kept a "market outperform" rating, implying about a 46.56% upside from the current price.
• The company beat quarterly estimates, reporting $1.21 EPS vs. $1.06 expected and $663 million in revenue, with a 44.21% return on equity and 3.1% year‑over‑year revenue growth.
• Analyst sentiment remains favorable overall — 11 Buy ratings and 1 Hold translate to a consensus "Moderate Buy" and a consensus target price of $135.90.

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price objective hoisted by equities researchers at Citizens Jmp from $146.00 to $149.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price objective would indicate a potential upside of 46.56% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Churchill Downs in a research note on Tuesday. Citigroup reissued an "outperform" rating on shares of Churchill Downs in a research note on Friday. Finally, 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 research note on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $135.90.

Churchill Downs Trading Up 3.8%

Shares of CHDN traded up $3.76 during midday trading on Friday, hitting $101.67. The stock had a trading volume of 628,082 shares, compared to its average volume of 945,545. Churchill Downs has a 1 year low of $80.24 and a 1 year high of $118.46. The firm has a market cap of $7.09 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. The stock's 50 day moving average is $89.26 and its 200 day moving average is $98.73.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 44.21%. The business had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts forecast that Churchill Downs will post 6.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in Churchill Downs by 1.5% in the 3rd quarter. Allworth Financial LP now owns 7,549 shares of the company's stock worth $732,000 after buying an additional 109 shares during the period. Quadrant Capital Group LLC grew its holdings in Churchill Downs by 4.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company's stock worth $254,000 after acquiring an additional 118 shares in the last quarter. GAMMA Investing LLC grew its holdings in Churchill Downs by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 691 shares of the company's stock worth $67,000 after acquiring an additional 123 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Churchill Downs by 1.1% during the 4th quarter. Park Avenue Securities LLC now owns 12,132 shares of the company's stock worth $1,380,000 after acquiring an additional 136 shares in the last quarter. Finally, Aurora Investment Counsel grew its holdings in Churchill Downs by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 24,702 shares of the company's stock worth $2,396,000 after acquiring an additional 146 shares in the last quarter. 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.

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