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

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

A number of other equities research analysts have also recently weighed in on CHDN. Truist Financial dropped their price target on Churchill Downs from $148.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 27th. Stifel Nicolaus began coverage on Churchill Downs in a research note on Monday, October 2nd. They issued a “buy” rating and a $148.00 target price for the company. Susquehanna lowered their target price on Churchill Downs from $145.00 to $138.00 and set a “positive” rating for the company in a research note on Thursday, October 19th. Bank of America lowered their target price on Churchill Downs from $155.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Finally, Wells Fargo & Company lowered their target price on Churchill Downs from $150.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.81.

Churchill Downs Stock Up 0.5 %

CHDN opened at $121.41 on Tuesday. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $9.06 billion, a PE ratio of 25.78 and a beta of 1.08. The stock’s fifty day moving average is $114.85 and its 200-day moving average is $126.90. Churchill Downs has a one year low of $101.89 and a one year high of $150.45.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Churchill Downs had a return on equity of 49.33% and a net margin of 15.15%. The company had revenue of $572.50 million during the quarter, compared to analysts’ expectations of $568.55 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 49.4% compared to the same quarter last year. On average, equities analysts predict that Churchill Downs will post 5.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in Churchill Downs in the second quarter worth approximately $27,000. Quent Capital LLC grew its stake in shares of Churchill Downs by 100.0% in the 2nd quarter. Quent Capital LLC now owns 214 shares of the company’s stock worth $30,000 after buying an additional 107 shares in the last quarter. AlphaMark Advisors LLC purchased a new position in shares of Churchill Downs in the 2nd quarter worth $33,000. National Bank of Canada FI boosted its stake in shares of Churchill Downs by 100.0% during the 2nd quarter. National Bank of Canada FI now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 119 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Churchill Downs by 96.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 258 shares of the company’s stock worth $36,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 72.88% 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 Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.