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

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

A number of other research analysts have also recently weighed in on CHDN. JMP Securities lifted their price objective on Churchill Downs from $158.00 to $166.00 and gave the company a market outperform rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Mizuho lifted their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the company an outperform rating in a research note on Friday, July 26th. Finally, Macquarie increased their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an outperform rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of Moderate Buy and a consensus target price of $157.11.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $135.36 on Friday. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. The firm has a 50 day moving average of $138.15 and a 200 day moving average of $128.68.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. On average, research analysts anticipate that Churchill Downs will post 6.11 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Consolidated Planning Corp raised its holdings in shares of Churchill Downs by 53.0% during the 2nd quarter. Consolidated Planning Corp now owns 4,154 shares of the company’s stock worth $580,000 after acquiring an additional 1,439 shares in the last quarter. Fortis Capital Advisors LLC purchased a new stake in Churchill Downs during the second quarter valued at $587,000. CIBC Asset Management Inc raised its stake in Churchill Downs by 11.9% during the second quarter. CIBC Asset Management Inc now owns 2,066 shares of the company’s stock valued at $288,000 after purchasing an additional 220 shares in the last quarter. Natixis Advisors LLC lifted its position in Churchill Downs by 103.5% during the second quarter. Natixis Advisors LLC now owns 108,273 shares of the company’s stock valued at $15,115,000 after purchasing an additional 55,064 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Churchill Downs by 7.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock worth $308,000 after buying an additional 162 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

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.