Churchill Downs (NASDAQ:CHDN) Sets New 1-Year Low – What’s Next?

Churchill Downs Incorporated (NASDAQ:CHDN)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $110.86 and last traded at $111.49, with a volume of 126384 shares traded. The stock had previously closed at $113.20.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHDN. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Stock Down 1.6 %

The company has a market capitalization of $8.19 billion, a P/E ratio of 19.61, a PEG ratio of 2.95 and a beta of 0.93. The company has a 50 day simple moving average of $124.23 and a two-hundred day simple moving average of $133.46. 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 (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. As a group, equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently modified their holdings of CHDN. Blue Trust Inc. raised its holdings 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the third quarter valued at about $27,000. Fortitude Family Office LLC raised its stake in shares of 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 during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth about $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter valued at approximately $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Company Profile

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.