Churchill Downs (CHDN) Lifted to “Sell” at BidaskClub

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BidaskClub upgraded shares of Churchill Downs (NASDAQ:CHDN) from a strong sell rating to a sell rating in a report released on Saturday morning.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Churchill Downs from a strong-buy rating to a hold rating in a research note on Tuesday, July 10th. Jefferies Financial Group set a $317.00 target price on Churchill Downs and gave the stock a hold rating in a research report on Monday, August 6th. Finally, ValuEngine cut Churchill Downs from a buy rating to a hold rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Churchill Downs currently has an average rating of Hold and an average target price of $314.00.

NASDAQ CHDN opened at $278.95 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.29 and a current ratio of 1.29. Churchill Downs has a 52 week low of $198.90 and a 52 week high of $314.60. The stock has a market capitalization of $3.61 billion, a PE ratio of 26.07, a P/E/G ratio of 1.24 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $7.71 EPS for the quarter, topping the consensus estimate of $7.43 by $0.28. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. The firm had revenue of $379.40 million for the quarter, compared to the consensus estimate of $371.30 million. During the same quarter last year, the company earned $4.81 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. equities analysts predict that Churchill Downs will post 10.72 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Silvant Capital Management LLC purchased a new stake in shares of Churchill Downs during the first quarter worth about $105,000. Macquarie Group Ltd. purchased a new stake in shares of Churchill Downs during the second quarter worth about $119,000. Fort L.P. purchased a new stake in shares of Churchill Downs during the second quarter worth about $120,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Churchill Downs during the first quarter worth about $125,000. Finally, Synovus Financial Corp purchased a new stake in shares of Churchill Downs during the first quarter worth about $146,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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