Churchill Downs (NASDAQ:CHDN) Upgraded at StockNews.com

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

A number of other research firms also recently issued reports on CHDN. Mizuho decreased their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Macquarie increased their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, Jefferies Financial Group increased their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Trading Up 7.5 %

Shares of Churchill Downs stock traded up $10.29 during midday trading on Wednesday, reaching $147.45. 1,052,920 shares of the company’s stock traded hands, compared to its average volume of 435,376. The stock has a 50 day moving average of $138.26 and a 200-day moving average of $136.94. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $10.84 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.83 and a beta of 0.96. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, equities analysts expect that Churchill Downs will post 5.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors have recently modified their holdings of the business. Capital International Investors boosted its position in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after buying an additional 177,900 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs during the second quarter valued at $125,418,000. Boston Partners boosted its position in shares of Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after buying an additional 35,587 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Churchill Downs by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock valued at $88,551,000 after buying an additional 3,608 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after buying an additional 57,892 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; casino gaming; and Terre Haute Casino Resort.