ValuEngine upgraded shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a buy rating in a report released on Friday morning.

A number of other equities analysts have also recently weighed in on CHDN. BidaskClub raised Churchill Downs from a sell rating to a hold rating in a report on Friday, September 21st. Zacks Investment Research raised Churchill Downs from a hold rating to a buy rating and set a $332.00 price target for the company in a report on Monday, July 2nd. Finally, Jefferies Financial Group set a $325.00 price target on Churchill Downs and gave the stock a hold rating in a report on Thursday, September 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $316.67.

Shares of CHDN stock traded up $4.35 on Friday, hitting $280.06. The company had a trading volume of 110,207 shares, compared to its average volume of 101,097. The stock has a market cap of $3.77 billion, a PE ratio of 47.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.95. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. Churchill Downs has a twelve month low of $204.25 and a twelve month high of $314.60.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, August 1st. The company reported $7.71 earnings per share for the quarter, topping analysts’ consensus estimates of $7.43 by $0.28. The company had revenue of $379.40 million during the quarter, compared to analysts’ expectations of $371.30 million. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. Churchill Downs’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.81 EPS. Sell-side analysts anticipate that Churchill Downs will post 10.72 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHDN. Macquarie Group Ltd. purchased a new stake in shares of Churchill Downs in the second quarter valued at approximately $119,000. Fort L.P. purchased a new stake in shares of Churchill Downs in the second quarter valued at approximately $120,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Churchill Downs in the second quarter valued at approximately $203,000. Brown Advisory Inc. purchased a new stake in shares of Churchill Downs in the second quarter valued at approximately $205,000. Finally, Aperio Group LLC purchased a new stake in shares of Churchill Downs in the first quarter valued at approximately $227,000. 70.72% of the stock is owned by institutional investors.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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