Churchill Downs (NASDAQ:CHDN) Given New $117.00 Price Target at Wells Fargo & Company

Posted by Brenda Bartman on Aug 1st, 2026

Churchill Downs (NASDAQ:CHDN – Free Report) had its price objective decreased by Wells Fargo & Company from $120.00 to $117.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently commented on CHDN. Mizuho upped their target price on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Truist Financial set a $145.00 price target on shares of Churchill Downs in a report on Friday, June 12th. Citizens Jmp dropped their price target on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Get Our Latest Stock Analysis on CHDN

Churchill Downs Trading Up 1.9%

NASDAQ CHDN opened at $84.30 on Friday. The business’s 50-day moving average price is $86.81 and its two-hundred day moving average price is $90.41. Churchill Downs has a 12 month low of $79.40 and a 12 month high of $118.35. The firm has a market capitalization of $5.88 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The company has a current ratio of 0.36, a quick ratio of 0.54 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $977.38 million. During the same quarter in the prior year, the firm posted $3.10 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Churchill Downs will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC bought a new stake in Churchill Downs in the third quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $38,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs News Roundup

Here are the key news stories impacting Churchill Downs this week:

Positive Sentiment: Analysts remain bullish despite target adjustments. Susquehanna raised its price target from $121 to $124 and kept a positive rating. Wells Fargo and Citizens JMP lowered their targets to $117 and $137, respectively, but maintained “overweight” and “market outperform” ratings. All three targets imply substantial upside from recent trading levels. Benzinga analyst rating coverage
Positive Sentiment: Quarterly revenue increased year over year. Churchill Downs reported second-quarter revenue of approximately $980 million, up 4.9% from the prior year and slightly ahead of the roughly $977 million consensus estimate. Adjusted earnings of $3.45 per share matched the company’s reported consensus estimate and increased from $3.10 a year earlier. Churchill Downs Q2 sales report
Positive Sentiment: Churchill Downs is expanding its wagering and racing operations. The company agreed to buy back NYRA’s 49% stake in United Tote, restoring full ownership of the pari-mutuel technology and services business. It also outlined a $285 million Victory Run development ahead of the 2028 Kentucky Derby, which could support long-term growth and enhance the Churchill Downs property. United Tote stake acquisition Victory Run development and gaming asset sales
Neutral Sentiment: Strategic asset sales could reshape the portfolio. Management is pursuing potential sales of nine regional casinos as part of a broader review of its gaming assets. Proceeds could improve capital flexibility, although the outcome and valuation of any transactions remain uncertain. Strategic gaming asset review
Negative Sentiment: The earnings reaction was pressured by elevated expectations. One data provider cited EPS of $3.45 as below its $3.51 consensus estimate, while conference-call commentary may have raised concerns about margins or forward momentum after strong Derby-related performance. The planned Victory Run investment and Churchill Downs’ high leverage also keep capital-spending and balance-sheet risks in focus. Churchill Downs Q2 earnings estimate comparison

Churchill Downs Company Profile

(Get Free Report)

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.