Churchill Downs (NASDAQ:CHDN) Upgraded by StockNews.com to “Hold”

Churchill Downs (NASDAQ:CHDN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

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

Churchill Downs Stock Up 0.2 %

NASDAQ CHDN traded up $0.21 during midday trading on Friday, hitting $129.44. 564,088 shares of the company traded hands, compared to its average volume of 388,341. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $9.54 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 8.59 and a beta of 1.03. The company’s 50-day simple moving average is $119.79 and its 200-day simple moving average is $120.64. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $150.45.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.33% and a net margin of 13.72%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. As a group, equities research analysts forecast that Churchill Downs will post 5.48 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after acquiring an additional 107 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Churchill Downs in the 4th quarter worth $39,000. Vestor Capital LLC purchased a new position in shares of Churchill Downs during the 4th quarter valued at about $45,000. GAMMA Investing LLC purchased a new position in shares of Churchill Downs during the 4th quarter valued at about $66,000. Finally, Covestor Ltd raised its stake in shares of Churchill Downs by 44.0% during the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock valued at $98,000 after buying an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.