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 research report report published on Friday morning.

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

Churchill Downs Trading Up 0.5 %

Shares of CHDN stock opened at $130.14 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. The firm has a market cap of $9.57 billion, a P/E ratio of 28.98, a PEG ratio of 9.01 and a beta of 1.03. The company has a 50 day moving average of $120.22 and a 200-day moving average of $121.02. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $150.45.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. Churchill Downs’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Sell-side analysts anticipate that Churchill Downs will post 5.48 earnings per share for the current year.

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Churchill Downs during the 4th quarter valued at $94,137,000. Boston Partners bought a new position in Churchill Downs in the 3rd quarter worth about $47,479,000. Balyasny Asset Management L.P. grew its holdings in shares of Churchill Downs by 113.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after purchasing an additional 246,769 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Churchill Downs by 28.9% in the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock worth $108,359,000 after buying an additional 179,814 shares during the last quarter. Finally, Barlow Wealth Partners Inc. bought a new stake in Churchill Downs during the fourth quarter worth about $20,669,000. 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.