Churchill Downs (NASDAQ:CHDN) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a sell rating in a research note released on Thursday.

Several other research firms have also recently weighed in on CHDN. Jefferies Financial Group increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, July 11th. JMP Securities increased their price objective on Churchill Downs from $156.00 to $158.00 and gave the stock a market outperform rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their target price on Churchill Downs from $145.00 to $150.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Truist Financial increased their target price on Churchill Downs from $145.00 to $165.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Stifel Nicolaus increased their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $155.60.

Churchill Downs Stock Up 3.3 %

CHDN opened at $142.58 on Thursday. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64. The stock’s fifty day simple moving average is $137.50 and its 200 day simple moving average is $128.13. The company has a current ratio of 0.57, a quick ratio of 0.50 and a debt-to-equity ratio of 4.65. The stock has a market cap of $10.48 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.24 EPS. As a group, research analysts expect that Churchill Downs will post 6.03 earnings per share for the current year.

Institutional Trading of Churchill Downs

Large investors have recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after buying an additional 107 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $39,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $45,000. Central Pacific Bank Trust Division acquired a new stake in shares of Churchill Downs during the first quarter valued at about $44,000. Finally, CWM LLC boosted its stake in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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.