Churchill Downs (NASDAQ:CHDN) Stock Rating Lowered by StockNews.com

Churchill Downs (NASDAQ:CHDN - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

A number of other brokerages have also recently issued reports on CHDN. Macquarie increased their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Jefferies Financial Group raised 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. Wells Fargo & Company raised their price target on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Truist Financial reiterated a "buy" rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday. Finally, Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and raised their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.88.

Churchill Downs Price Performance

CHDN traded up $0.11 during trading on Friday, reaching $140.25. 945,299 shares of the company were exchanged, compared to its average volume of 431,248. The company's 50-day moving average is $137.81 and its two-hundred day moving average is $135.84. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $146.64.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. Research analysts forecast that Churchill Downs will post 6.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company's stock worth $104,921,000 after buying an additional 44,773 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Churchill Downs by 12.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company's stock worth $52,411,000 after buying an additional 47,269 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Churchill Downs by 259.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company's stock worth $2,772,000 after buying an additional 14,331 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock worth $27,338,000 after buying an additional 193,914 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Churchill Downs by 66.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock valued at $34,944,000 after purchasing an additional 100,230 shares during the period. Hedge funds and other 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; casino gaming; and Terre Haute Casino Resort.

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