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

StockNews.com upgraded shares of Churchill Downs (NASDAQ:CHDN) from a sell rating to a hold rating in a report released on Friday morning.

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

Churchill Downs Stock Performance

CHDN opened at $129.44 on Friday. The firm has a market cap of $9.51 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 9.00 and a beta of 1.03. The business’s fifty day moving average is $119.79 and its 200-day moving average is $120.64. Churchill Downs has a 52-week low of $106.45 and a 52-week high of $150.45. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.53 and a current ratio of 0.50.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share (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 firm had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. During the same period in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that Churchill Downs will post 5.48 EPS for the current fiscal year.

Institutional Trading of Churchill Downs

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 107 shares during the period. Krilogy Financial LLC grew its stake in Churchill Downs by 8.3% during the first quarter. Krilogy Financial LLC now owns 13,018 shares of the company’s stock worth $1,611,000 after purchasing an additional 1,000 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Churchill Downs during the 1st quarter worth approximately $448,000. Assenagon Asset Management S.A. acquired a new position in shares of Churchill Downs during the 1st quarter valued at $237,000. Finally, Louisiana State Employees Retirement System increased its stake in Churchill Downs by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the company’s stock valued at $2,413,000 after purchasing an additional 400 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

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.