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

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

Several other research analysts have also commented on CHDN. Macquarie boosted their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus upped their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company upped their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, Jefferies Financial Group upped their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Price Performance

Shares of NASDAQ CHDN traded up $10.29 during midday trading on Wednesday, hitting $147.45. 1,052,920 shares of the company’s stock were exchanged, compared to its average volume of 435,376. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.83 and a beta of 0.96. The business’s fifty day moving average price is $138.26 and its two-hundred day moving average price is $136.94.

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 return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Churchill Downs will post 5.86 EPS for the current fiscal year.

Institutional Trading of Churchill Downs

A number of institutional investors have recently made changes to their positions in the stock. Capital International Investors boosted its stake in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares during the period. William Blair Investment Management LLC bought a new position in shares of Churchill Downs during the second quarter valued at approximately $125,418,000. Boston Partners raised its holdings in shares of Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after acquiring an additional 35,587 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Churchill Downs by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock valued at $88,551,000 after acquiring an additional 3,608 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after acquiring an additional 57,892 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.