Susquehanna Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $136.00

Churchill Downs (NASDAQ:CHDN - Get Free Report) had its price target reduced by equities researchers at Susquehanna from $150.00 to $136.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's target price suggests a potential upside of 53.93% from the company's current price.

Several other analysts have also commented on the stock. JMP Securities reissued a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho lowered their target price on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Barclays started coverage on Churchill Downs in a research report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target on the stock. Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, StockNews.com downgraded Churchill Downs from a "hold" rating to a "sell" rating in a research note 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. According to MarketBeat, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average target price of $144.80.

Churchill Downs Stock Up 0.4 %

Shares of NASDAQ CHDN traded up $0.36 during midday trading on Tuesday, reaching $88.35. 2,226,600 shares of the company's stock traded hands, compared to its average volume of 527,578. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.95 and a beta of 0.86. The stock's 50 day simple moving average is $108.37 and its 200-day simple moving average is $124.96. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs has a one year low of $85.58 and a one year high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, analysts predict that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Institutional Trading of Churchill Downs

Large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its holdings in Churchill Downs by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after purchasing an additional 100 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of Churchill Downs by 2.7% in the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock valued at $507,000 after buying an additional 100 shares during the period. Blue Trust Inc. boosted its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System boosted its position in Churchill Downs by 0.6% in the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock worth $2,559,000 after purchasing an additional 116 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock valued at $301,000 after buying an additional 120 shares during the period. 82.59% of the stock is 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.