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 morning.

A number of other research analysts also recently issued reports on the stock. Mizuho upped their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a buy rating in a research report on Friday. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the company a buy rating in a report on Friday. JMP Securities reaffirmed a market outperform rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. Truist Financial upped their target price on shares of Churchill Downs from $140.00 to $145.00 and gave the company a buy rating in a research report on Friday. Finally, Wells Fargo & Company upgraded Churchill Downs from an equal weight rating to an overweight rating and raised their price target for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $144.50.

Churchill Downs Price Performance

CHDN opened at $130.14 on Friday. The company’s 50 day simple moving average is $120.22 and its 200-day simple moving average is $121.02. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $9.57 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 9.01 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Institutional Trading of Churchill Downs

A number of large investors have recently made changes to their positions in CHDN. Principal Financial Group Inc. grew its stake in Churchill Downs by 1.9% in the first quarter. Principal Financial Group Inc. now owns 257,063 shares of the company’s stock valued at $31,812,000 after acquiring an additional 4,806 shares during the period. UMB Bank n.a. lifted its holdings in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares in the last quarter. Krilogy Financial LLC grew its position in shares of Churchill Downs by 8.3% in the 1st quarter. Krilogy Financial LLC now owns 13,018 shares of the company’s stock valued at $1,611,000 after purchasing an additional 1,000 shares during the period. Simplicity Wealth LLC bought a new stake in Churchill Downs during the 1st quarter worth approximately $448,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Churchill Downs during the 1st quarter worth approximately $237,000. Institutional investors own 82.59% of the company’s stock.

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.