BidaskClub cut shares of Churchill Downs (NASDAQ:CHDN) from a strong-buy rating to a buy rating in a report issued on Wednesday, BidAskClub reports.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Churchill Downs from a strong-buy rating to a hold rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of Churchill Downs from $138.00 to $148.00 and gave the company an overweight rating in a research note on Wednesday, July 1st. ValuEngine upgraded shares of Churchill Downs from a sell rating to a hold rating in a report on Friday, May 1st. Finally, TheStreet lowered Churchill Downs from a b- rating to a c+ rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $147.75.
Shares of NASDAQ:CHDN opened at $128.02 on Wednesday. The company’s fifty day moving average is $132.81 and its two-hundred day moving average is $122.93. The company has a market cap of $4.95 billion, a P/E ratio of 32.58 and a beta of 1.16. Churchill Downs has a 12-month low of $52.90 and a 12-month high of $167.52. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 4.95.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.11). The business had revenue of $252.90 million for the quarter, compared to analyst estimates of $251.45 million. Churchill Downs had a net margin of 7.78% and a return on equity of 30.45%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that Churchill Downs will post 1.33 earnings per share for the current year.
In related news, COO William E. Mudd sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $125.59, for a total value of $627,950.00. Following the completion of the sale, the chief operating officer now directly owns 281,690 shares in the company, valued at $35,377,447.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William E. Mudd sold 4,138 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $139.19, for a total transaction of $575,968.22. Following the transaction, the chief operating officer now directly owns 276,583 shares in the company, valued at $38,497,587.77. The disclosure for this sale can be found here. Insiders sold 14,138 shares of company stock valued at $1,813,968 over the last quarter. Corporate insiders own 4.28% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Churchill Downs by 14.2% in the 1st quarter. BlackRock Inc. now owns 5,095,005 shares of the company’s stock valued at $524,530,000 after acquiring an additional 633,835 shares in the last quarter. State Street Corp lifted its position in shares of Churchill Downs by 0.6% during the 1st quarter. State Street Corp now owns 1,112,209 shares of the company’s stock worth $114,502,000 after purchasing an additional 6,424 shares during the last quarter. Par Capital Management Inc. lifted its holdings in shares of Churchill Downs by 5.0% during the first quarter. Par Capital Management Inc. now owns 1,050,000 shares of the company’s stock worth $108,098,000 after buying an additional 50,000 shares during the last quarter. Nitorum Capital L.P. grew its stake in shares of Churchill Downs by 3.2% in the fourth quarter. Nitorum Capital L.P. now owns 1,042,708 shares of the company’s stock worth $143,060,000 after acquiring an additional 32,019 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Churchill Downs by 544.0% during the 4th quarter. Janus Henderson Group PLC now owns 580,229 shares of the company’s stock valued at $79,607,000 after purchasing an additional 490,128 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.
About Churchill Downs
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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