Mizuho Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price objective dropped by Mizuho from $148.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 58.46% from the company's current price.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Barclays began coverage on shares of Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target for the company. Finally, StockNews.com cut shares of Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.80.

Churchill Downs Price Performance

CHDN traded up $0.36 during midday trading on Tuesday, hitting $88.35. The stock had a trading volume of 2,226,600 shares, compared to its average volume of 527,578. Churchill Downs has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The business has a fifty day moving average of $108.37 and a 200 day moving average of $124.96. The company has a market cap of $6.49 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The business had revenue of $642.60 million during the quarter, compared to analysts' expectations of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities analysts forecast that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its board has initiated a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs in the third quarter worth $27,000. Fortitude Family Office LLC raised its holdings in Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs during the 4th quarter valued at $55,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.