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

StockNews.com lowered shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a sell rating in a research report sent to investors on Thursday.

CHDN has been the topic of several other reports. Truist Financial upped their price target on Churchill Downs from $145.00 to $165.00 and gave the company a buy rating in a research report on Thursday, July 18th. JMP Securities upped their price target on Churchill Downs from $156.00 to $158.00 and gave the company a market outperform rating in a research report on Wednesday, July 17th. Mizuho upped their price target on Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on Churchill Downs from $145.00 to $150.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group upped their price target on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $151.11.

Churchill Downs Stock Up 0.5 %

Shares of Churchill Downs stock opened at $137.96 on Thursday. The stock’s fifty day moving average is $137.32 and its 200-day moving average is $127.98. The firm has a market capitalization of $10.14 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 49.73% and a net margin of 15.61%. Churchill Downs’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. Equities analysts anticipate that Churchill Downs will post 6.03 earnings per share for the current year.

Insider Transactions at Churchill Downs

In related news, Director Paul C. Varga purchased 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the purchase, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Churchill Downs

Several large investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its stake in Churchill Downs by 5.6% during the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after purchasing an additional 44,773 shares during the period. Barlow Wealth Partners Inc. bought a new stake in Churchill Downs during the 4th quarter valued at approximately $20,669,000. Westfield Capital Management Co. LP boosted its stake in Churchill Downs by 12.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock valued at $52,411,000 after purchasing an additional 47,269 shares during the period. Capital Research Global Investors boosted its stake in Churchill Downs by 0.5% during the 4th 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 during the period. Finally, Balyasny Asset Management L.P. boosted its stake in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after purchasing an additional 246,769 shares during the period. Institutional investors own 82.59% 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 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.