Churchill Downs (NASDAQ:CHDN) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.
A number of other research analysts also recently issued reports on CHDN. ValuEngine upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Jefferies Financial Group set a $325.00 target price on shares of Churchill Downs and gave the company a “hold” rating in a research report on Thursday, September 20th. They noted that the move was a valuation call. Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Telsey Advisory Group lowered their price target on Churchill Downs from $290.00 to $280.00 and set a “market perform” rating for the company in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Churchill Downs has an average rating of “Buy” and an average target price of $297.00.
Shares of Churchill Downs stock traded up $5.77 during trading hours on Thursday, reaching $264.32. The company’s stock had a trading volume of 137,067 shares, compared to its average volume of 126,408. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.09 and a current ratio of 1.09. Churchill Downs has a one year low of $223.73 and a one year high of $314.60. The company has a market cap of $3.46 billion, a P/E ratio of 44.95, a PEG ratio of 0.93 and a beta of 1.15.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.43). Churchill Downs had a return on equity of 30.33% and a net margin of 39.18%. The company had revenue of $221.30 million for the quarter, compared to analyst estimates of $208.87 million. During the same quarter in the prior year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Churchill Downs will post 10.82 earnings per share for the current year.
In related news, Director Richard L. Duchossois purchased 1,950 shares of the stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $258.62 per share, with a total value of $504,309.00. Following the purchase, the director now directly owns 8,550 shares in the company, valued at approximately $2,211,201. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Duchossois bought 1,900 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average cost of $265.83 per share, with a total value of $505,077.00. Following the completion of the purchase, the director now owns 8,550 shares in the company, valued at approximately $2,272,846.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 7,650 shares of company stock valued at $2,037,236. 13.78% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Churchill Downs by 3.3% during the 3rd quarter. BlackRock Inc. now owns 1,317,957 shares of the company’s stock worth $365,998,000 after purchasing an additional 42,497 shares in the last quarter. Vanguard Group Inc. increased its stake in Churchill Downs by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,060,462 shares of the company’s stock worth $294,491,000 after purchasing an additional 48,495 shares in the last quarter. Vanguard Group Inc increased its stake in Churchill Downs by 4.8% during the 3rd quarter. Vanguard Group Inc now owns 1,060,462 shares of the company’s stock worth $294,491,000 after purchasing an additional 48,495 shares in the last quarter. FMR LLC increased its stake in Churchill Downs by 5.7% during the 3rd quarter. FMR LLC now owns 370,791 shares of the company’s stock worth $102,968,000 after purchasing an additional 20,091 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Churchill Downs by 6,355.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 225,991 shares of the company’s stock worth $1,238,000 after purchasing an additional 222,490 shares in the last quarter. 70.42% of the stock is owned by institutional investors and hedge funds.
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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