Churchill Downs, Inc. (NASDAQ:CHDN) has received a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $132.50.
CHDN has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Churchill Downs from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group increased their price objective on shares of Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. Susquehanna Bancshares started coverage on shares of Churchill Downs in a research note on Wednesday, July 24th. They issued a “positive” rating and a $140.00 price objective on the stock. Telsey Advisory Group raised their price target on shares of Churchill Downs from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 1st. Finally, ValuEngine lowered shares of Churchill Downs from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th.
Shares of NASDAQ:CHDN traded down $0.33 during midday trading on Thursday, reaching $123.77. The company’s stock had a trading volume of 7,927 shares, compared to its average volume of 201,472. The firm has a market capitalization of $4.94 billion, a PE ratio of 33.99, a P/E/G ratio of 1.44 and a beta of 1.20. Churchill Downs has a twelve month low of $74.58 and a twelve month high of $132.73. The stock has a fifty day moving average of $121.86 and a 200 day moving average of $106.46. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.66.
In related news, SVP Austin W. Miller sold 5,900 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $117.31, for a total transaction of $692,129.00. Following the sale, the senior vice president now owns 40,494 shares in the company, valued at $4,750,351.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CHDN. Geode Capital Management LLC grew its position in Churchill Downs by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock valued at $36,695,000 after buying an additional 16,314 shares during the period. Bank of Montreal Can grew its position in Churchill Downs by 110.8% during the first quarter. Bank of Montreal Can now owns 1,031 shares of the company’s stock valued at $93,000 after buying an additional 542 shares during the period. Comerica Bank grew its position in Churchill Downs by 192.5% during the first quarter. Comerica Bank now owns 16,144 shares of the company’s stock valued at $1,482,000 after buying an additional 10,625 shares during the period. State Board of Administration of Florida Retirement System grew its position in Churchill Downs by 250.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,393 shares of the company’s stock valued at $1,931,000 after buying an additional 15,293 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Churchill Downs by 306.8% during the first quarter. California Public Employees Retirement System now owns 55,505 shares of the company’s stock valued at $5,010,000 after purchasing an additional 41,861 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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