Wells Fargo & Company Upgrades Churchill Downs (NASDAQ:CHDN) to Overweight

Wells Fargo & Company upgraded shares of Churchill Downs (NASDAQ:CHDN) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat.com reports. They currently have $141.00 target price on the stock, up from their prior target price of $137.00.

A number of other equities analysts also recently weighed in on the stock. Mizuho began coverage on shares of Churchill Downs in a research note on Tuesday, March 26th. They issued a buy rating and a $142.00 price target on the stock. JMP Securities restated a market outperform rating and issued a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $143.13.

Churchill Downs Trading Down 2.4 %

NASDAQ:CHDN opened at $121.08 on Monday. The stock has a market cap of $8.92 billion, a PE ratio of 22.22 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 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s 50-day moving average is $119.66 and its two-hundred day moving average is $120.29.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The firm had revenue of $561.20 million for the quarter, compared to the consensus estimate of $553.05 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, equities research analysts forecast that Churchill Downs will post 5.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. raised its stake in Churchill Downs by 4.2% during the 1st quarter. SRS Capital Advisors Inc. now owns 995 shares of the company’s stock valued at $256,000 after purchasing an additional 40 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Churchill Downs by 4.1% during the third quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock valued at $252,000 after buying an additional 54 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Churchill Downs by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 19,094 shares of the company’s stock valued at $3,516,000 after buying an additional 91 shares during the period. First Republic Investment Management Inc. grew its position in Churchill Downs by 0.4% during the first quarter. First Republic Investment Management Inc. now owns 22,479 shares of the company’s stock worth $4,985,000 after buying an additional 96 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Churchill Downs by 0.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 19,160 shares of the company’s stock valued at $2,223,000 after acquiring an additional 100 shares during the period. 82.59% of the stock is owned by institutional investors.

About Churchill Downs

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.