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

Churchill Downs (NASDAQ:CHDN) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued reports about the company. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Stifel Nicolaus raised their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company increased their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Monday, October 14th. Finally, Truist Financial restated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Down 0.7 %

Shares of NASDAQ:CHDN opened at $146.41 on Wednesday. The company has a market capitalization of $10.76 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The business has a fifty day moving average price of $138.59 and a two-hundred day moving average price of $137.08. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Analysts forecast that Churchill Downs will post 5.86 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds have recently made changes to their positions in the business. Kimelman & Baird LLC bought a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $42,000. Central Pacific Bank Trust Division bought a new stake in shares of Churchill Downs in the 1st quarter valued at approximately $44,000. CWM LLC lifted its stake in shares of Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after purchasing an additional 255 shares during the last quarter. Finally, Bank & Trust Co bought a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $84,000. 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; casino gaming; and Terre Haute Casino Resort.