Churchill Downs (NASDAQ:CHDN) Upgraded at StockNews.com

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

A number of other research firms have also issued reports on CHDN. Macquarie upped their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the company an outperform rating in a report on Friday, July 26th. Stifel Nicolaus upped their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a research note on Monday, July 22nd. Truist Financial reaffirmed a buy rating and issued a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Jefferies Financial Group boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a buy rating in a report on Thursday, July 11th. Finally, JMP Securities raised their price objective on Churchill Downs from $158.00 to $166.00 and gave the stock a market outperform rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $157.11.

Churchill Downs Trading Down 3.3 %

Shares of CHDN opened at $135.36 on Friday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64. The stock has a market cap 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 firm has a 50 day simple moving average of $138.15 and a 200-day simple moving average of $128.75.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results 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. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same quarter last year, the business posted $2.24 earnings per share. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Churchill Downs will post 6.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $94,137,000. Boston Partners increased its position in shares of Churchill Downs by 98.1% in the fourth quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after acquiring an additional 401,319 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after acquiring an additional 246,769 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after acquiring an additional 193,914 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Churchill Downs during the 2nd quarter valued at $26,384,000. 82.59% of the stock is currently owned by hedge funds and other 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.