Churchill Downs (NASDAQ:CHDN - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Tuesday.
Several other research analysts also recently commented on CHDN. Stifel Nicolaus lowered their target price on Churchill Downs from $164.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Mizuho lowered their price target on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.38.
Read Our Latest Analysis on CHDN
Churchill Downs Price Performance
NASDAQ:CHDN traded up $1.11 during mid-day trading on Tuesday, reaching $107.61. The stock had a trading volume of 703,638 shares, compared to its average volume of 471,544. Churchill Downs has a 12 month low of $105.18 and a 12 month high of $150.21. The stock has a market capitalization of $7.91 billion, a PE ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a 50-day simple moving average of $121.90 and a two-hundred day simple moving average of $132.51.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. On average, equities analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current year.
Churchill Downs announced that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On Churchill Downs
Several large investors have recently bought and sold shares of CHDN. Vanguard Group Inc. boosted its holdings in Churchill Downs by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock worth $909,183,000 after purchasing an additional 107,737 shares during the last quarter. FMR LLC lifted its position in shares of Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after buying an additional 214,694 shares in the last quarter. State Street Corp boosted its stake in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after buying an additional 114,018 shares during the last quarter. Boston Partners grew its holdings in shares of Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after acquiring an additional 366,283 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Churchill Downs by 5.4% during the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after acquiring an additional 77,213 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.
Churchill Downs Company Profile
(
Get Free Report)
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; casino gaming; and Terre Haute Casino Resort.
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