Churchill Downs (NASDAQ:CHDN) Upgraded by StockNews.com to “Hold”

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

CHDN has been the subject of several other reports. JMP Securities reiterated a market outperform rating and set a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. Truist Financial increased 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. 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. Wells Fargo & Company raised shares of Churchill Downs from an equal weight rating to an overweight rating and raised their price target for the stock from $137.00 to $141.00 in a research note on Monday, April 15th. Finally, Stifel Nicolaus increased their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the company a buy rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $144.50.

Churchill Downs Stock Up 0.2 %

Shares of CHDN stock opened at $129.44 on Friday. The stock’s 50-day simple moving average is $119.79 and its 200-day simple moving average is $120.64. The firm has a market capitalization of $9.51 billion, a PE ratio of 28.83, a P/E/G ratio of 9.00 and a beta of 1.03. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two 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 results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.35. The company had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Equities analysts expect that Churchill Downs will post 5.48 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently modified their holdings of CHDN. UMB Bank n.a. lifted its stake in Churchill Downs by 59.8% during the first 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 last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in Churchill Downs during the fourth quarter worth approximately $39,000. Vestor Capital LLC purchased a new stake in shares of Churchill Downs during the 4th quarter worth approximately $45,000. GAMMA Investing LLC acquired a new position in shares of Churchill Downs in the 4th quarter valued at $66,000. Finally, Covestor Ltd grew its position in shares of Churchill Downs by 44.0% during the third quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds 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; and casino gaming.