Churchill Downs Inc. (CHDN) Downgraded by Zacks Investment Research
Churchill Downs Inc. (NASDAQ:CHDN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
Other equities analysts also recently issued research reports about the company. Gabelli upgraded Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. started coverage on Churchill Downs in a report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 target price for the company. Finally, Telsey Advisory Group upped their target price on Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $161.60.
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Churchill Downs (NASDAQ:CHDN) traded up 0.90% during trading on Monday, reaching $144.92. 70,402 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $148.28 and a 200-day moving average of $137.48. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.98. The stock has a market cap of $2.39 billion, a PE ratio of 29.61 and a beta of 0.89.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Thursday, August 4th. The company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.55. The company earned $438.50 million during the quarter, compared to the consensus estimate of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 earnings per share. On average, equities research analysts anticipate that Churchill Downs will post $5.94 earnings per share for the current fiscal year.
In other Churchill Downs news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $148.75, for a total value of $743,750.00. Following the completion of the transaction, the director now owns 189,235 shares in the company, valued at $28,148,706.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.05% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. HBK Investments L P purchased a new position in Churchill Downs during the first quarter worth about $680,000. JPMorgan Chase & Co. increased its position in shares of Churchill Downs by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 115,019 shares of the company’s stock valued at $17,009,000 after buying an additional 4,895 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Churchill Downs by 255.2% in the second quarter. Nationwide Fund Advisors now owns 29,265 shares of the company’s stock valued at $3,698,000 after buying an additional 21,026 shares during the last quarter. Credit Agricole S A bought a new position in shares of Churchill Downs during the first quarter valued at $2,514,000. Finally, Bruderman Asset Management LLC bought a new position in shares of Churchill Downs during the second quarter valued at $140,000. Institutional investors and hedge funds own 72.13% of the company’s stock.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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