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

Churchill Downs (NASDAQ:CHDN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also commented on CHDN. Mizuho decreased their price objective 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. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. One investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Stock Down 0.9 %

CHDN traded down $0.96 on Tuesday, reaching $108.60. The company’s stock had a trading volume of 826,623 shares, compared to its average volume of 470,011. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs has a 1 year low of $107.05 and a 1 year high of $150.21. 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 business’s 50 day moving average is $122.44 and its 200 day moving average is $132.69.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, research analysts forecast that Churchill Downs will post 6.92 EPS for the current fiscal year.

Institutional Trading of Churchill Downs

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Churchill Downs by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock valued at $909,183,000 after acquiring an additional 107,737 shares in the last quarter. FMR LLC lifted its holdings in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after purchasing an additional 214,694 shares during the last quarter. State Street Corp lifted its holdings in Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after purchasing an additional 114,018 shares during the last quarter. Boston Partners lifted its holdings in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Churchill Downs by 5.4% during the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after purchasing an additional 77,213 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

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.