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

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

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

Churchill Downs Price Performance

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

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 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 company had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter last year, the business earned $0.98 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Churchill Downs will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors grew its holdings in shares of Churchill Downs by 0.5% in the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. lifted its position in Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares during the last quarter. Capital International Investors lifted its position in Churchill Downs by 6.1% in the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock worth $321,508,000 after buying an additional 136,197 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Churchill Downs by 8.3% in the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after buying an additional 83,214 shares during the last quarter. Finally, Boston Partners lifted its position in Churchill Downs by 98.1% in the fourth quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after buying an additional 401,319 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other 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.