Churchill Downs (NASDAQ:CHDN) Upgraded at StockNews.com

Churchill Downs (NASDAQ:CHDN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Down 0.7 %

Shares of NASDAQ:CHDN opened at $146.41 on Wednesday. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. The business’s fifty day simple moving average is $138.59 and its 200-day simple moving average is $137.08. The company has a market capitalization of $10.76 billion, a PE ratio of 26.67, a P/E/G ratio of 3.80 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period last year, the business posted $0.87 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Churchill Downs will post 5.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Churchill Downs by 56.2% in the first quarter. BNP Paribas Financial Markets now owns 6,481 shares of the company’s stock valued at $802,000 after acquiring an additional 2,332 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Churchill Downs in the first quarter valued at $44,000. Texas Permanent School Fund Corp boosted its stake in shares of Churchill Downs by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 59,409 shares of the company’s stock worth $7,352,000 after buying an additional 769 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Churchill Downs by 12.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,531 shares of the company’s stock worth $1,179,000 after buying an additional 1,085 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Churchill Downs during the first quarter worth about $354,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.