Let’s take a quick look at where covering equity analysts see Churchill Downs, Incorporated (NASDAQ:CHDN) going in the future. Analysts polled by Thomson Reuters have a current consensus target on company stock of $160.50. It is important to mention that target price projections can be very different between analysts. Covering analysts use their acquired knowledge and expertise to help create their best calculation of where they think the stock may be moving in the future.
After a recent check on the stock, shares have been seen trading $14.45 away from the 50-day moving average of $142.05 and $19.25 away from the 200-day moving average of $137.25. The stock has been recently noted at -0.32% off of the 52-week high of 157.00 and +31.78% separated from the 52-week low of 118.76. Monitoring the stock price relative to moving averages as well as 52 week highs and lows may help with the evaluation of future stock performance.
Analysts that track the company may use various metrics to aid with calculating target price predictions.
A frequently used metric is a company’s price to earnings ratio. This calculation is derived by dividing the current share price by the projected earnings per share. Churchill Downs, Incorporated currently has a P/E Ratio of 30.05. Traders may also keep an eye on a company’s PEG or price to earnings growth ratio. The PEG ratio represents the ratio of the price to earnings to the expected future growth rate of the company. A PEG Ratio below one may represent that the company is undervalued. If the company’s PEG Ratio is higher than one, it may indicate that the company is overvalued. A PEG Ratio near one may be viewed as fair value. The company has a current PEG Ratio of 2.19.