Churchill Downs (NASDAQ:CHDN) Rating Increased to Hold at StockNews.com

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

A number of other research analysts have also issued reports on CHDN. Stifel Nicolaus increased their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Mizuho increased their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Truist Financial increased their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $129.44 on Friday. The company’s 50 day moving average price is $120.00 and its two-hundred day moving average price is $120.82. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $150.45. The firm has a market cap of $9.51 billion, a PE ratio of 28.83, a PEG ratio of 9.00 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.50 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Churchill Downs will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

A number of large investors have recently bought and sold shares of CHDN. UMB Bank n.a. grew its holdings in Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after purchasing an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Churchill Downs in the fourth quarter valued at $39,000. Vestor Capital LLC bought a new position in shares of Churchill Downs in the fourth quarter valued at $45,000. GAMMA Investing LLC bought a new position in shares of Churchill Downs in the fourth quarter valued at $66,000. Finally, Covestor Ltd lifted its stake in shares of Churchill Downs by 44.0% in the third quarter. Covestor Ltd now owns 848 shares of the company’s stock valued at $98,000 after buying an additional 259 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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; and casino gaming.