Churchill Downs (NASDAQ:CHDN) Upgraded to Overweight by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Churchill Downs (NASDAQ:CHDN) from an equal weight rating to an overweight rating in a research note released on Monday, MarketBeat reports. Wells Fargo & Company currently has $141.00 price objective on the stock, up from their prior price objective of $137.00.

Other analysts also recently issued reports about the company. Mizuho began coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a buy rating and a $142.00 target price for the company. JMP Securities reiterated a market outperform rating and set a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $143.13.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $122.19 on Monday. The stock has a market cap of $9.00 billion, a P/E ratio of 22.40 and a beta of 1.03. The stock has a 50 day simple moving average of $119.62 and a 200 day simple moving average of $120.23. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.18. The business had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.73 EPS. Research analysts anticipate that Churchill Downs will post 5.5 earnings per share for the current year.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC increased its holdings in Churchill Downs by 181.3% in the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock worth $58,000 after purchasing an additional 145 shares in the last quarter. Castleview Partners LLC acquired a new position in Churchill Downs in the 2nd quarter worth about $38,000. Rockefeller Capital Management L.P. increased its holdings in Churchill Downs by 174.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after purchasing an additional 180 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Churchill Downs in the 4th quarter worth about $39,000. Finally, Vestor Capital LLC acquired a new position in Churchill Downs in the 4th quarter worth about $45,000. 82.59% of the stock is currently owned by institutional investors.

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.