Churchill Downs (NASDAQ:CHDN) Downgraded to Sell at StockNews.com

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

CHDN has been the topic of a number of other research reports. Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus raised their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $140.25 on Friday. The business has a 50 day moving average of $137.81 and a 200 day moving average of $135.92. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $146.64. The company has a market cap of $10.31 billion, a PE ratio of 31.24, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The business had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Churchill Downs will post 6.13 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds have recently added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs in the second quarter worth $42,000. Central Pacific Bank Trust Division bought a new stake in Churchill Downs in the 1st quarter worth about $44,000. CWM LLC raised its position in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after buying an additional 118 shares during the last quarter. UMB Bank n.a. lifted its stake in Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the period. Finally, Bank & Trust Co purchased a new stake in shares of Churchill Downs during the 2nd quarter valued at about $84,000. 82.59% of the stock is currently 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.