Churchill Downs (CHDN) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a sell rating in a research note released on Tuesday, ValuEngine reports.

CHDN has been the topic of a number of other reports. BidaskClub raised shares of Churchill Downs from a buy rating to a strong-buy rating in a research note on Wednesday, February 27th. Zacks Investment Research cut shares of Churchill Downs from a buy rating to a hold rating in a research note on Wednesday, January 16th. Jefferies Financial Group set a $106.00 price objective on shares of Churchill Downs and gave the company a buy rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. set a $105.00 price objective on shares of Churchill Downs and gave the company a hold rating in a research note on Friday, March 1st. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $93.00 target price (down from $280.00) on shares of Churchill Downs in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Churchill Downs presently has a consensus rating of Hold and a consensus target price of $104.42.

CHDN opened at $95.21 on Tuesday. Churchill Downs has a one year low of $74.58 and a one year high of $104.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 3.22. The company has a market cap of $3.85 billion, a PE ratio of 24.27, a P/E/G ratio of 1.09 and a beta of 1.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.23. Churchill Downs had a net margin of 16.81% and a return on equity of 33.97%. The firm had revenue of $265.40 million for the quarter, compared to analysts’ expectations of $250.57 million. During the same period last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 40.2% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs will post 4.4 EPS for the current fiscal year.

In other news, Director R Alex Rankin bought 500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $101.83 per share, for a total transaction of $50,915.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karole Lloyd bought 1,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $85.22 per share, for a total transaction of $85,220.00. The disclosure for this purchase can be found here. Company insiders own 13.05% of the company’s stock.

Several large investors have recently modified their holdings of CHDN. BlackRock Inc. raised its holdings in shares of Churchill Downs by 203.0% during the first quarter. BlackRock Inc. now owns 4,077,620 shares of the company’s stock worth $368,046,000 after acquiring an additional 2,731,814 shares during the period. Northern Trust Corp raised its holdings in shares of Churchill Downs by 203.2% during the first quarter. Northern Trust Corp now owns 582,186 shares of the company’s stock worth $52,548,000 after acquiring an additional 390,161 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Churchill Downs by 154.2% during the first quarter. Acadian Asset Management LLC now owns 615,395 shares of the company’s stock worth $55,547,000 after acquiring an additional 373,260 shares during the period. Geode Capital Management LLC raised its holdings in shares of Churchill Downs by 216.9% during the first quarter. Geode Capital Management LLC now owns 476,658 shares of the company’s stock worth $43,022,000 after acquiring an additional 326,228 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Churchill Downs by 201.3% during the first quarter. Dimensional Fund Advisors LP now owns 388,442 shares of the company’s stock worth $35,059,000 after acquiring an additional 259,529 shares during the period. Institutional investors and hedge funds own 29.47% of the company’s stock.

About Churchill Downs

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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