BidaskClub downgraded shares of Churchill Downs (NASDAQ:CHDN) from a strong-buy rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

CHDN has been the topic of a number of other reports. ValuEngine lowered Churchill Downs from a sell rating to a strong sell rating in a report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on Churchill Downs from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Susquehanna Bancshares started coverage on shares of Churchill Downs in a research report on Wednesday, July 24th. They issued a positive rating and a $140.00 target price for the company. Zacks Investment Research upgraded shares of Churchill Downs from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Telsey Advisory Group upped their price target on shares of Churchill Downs from $120.00 to $135.00 and gave the company an outperform rating in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $132.20.

Churchill Downs stock opened at $122.68 on Friday. Churchill Downs has a 12 month low of $74.58 and a 12 month high of $132.73. The stock’s 50 day moving average is $121.30 and its 200-day moving average is $105.49. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.46 and a beta of 1.20.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.01). The firm had revenue of $477.40 million for the quarter, compared to analyst estimates of $469.85 million. Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.71 earnings per share. As a group, equities research analysts predict that Churchill Downs will post 4.29 earnings per share for the current fiscal year.

In other news, SVP Austin W. Miller sold 5,900 shares of Churchill Downs stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $117.31, for a total value of $692,129.00. Following the completion of the sale, the senior vice president now directly owns 40,494 shares in the company, valued at $4,750,351.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Churchill Downs by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock worth $36,695,000 after acquiring an additional 16,314 shares during the period. Strs Ohio raised its holdings in Churchill Downs by 146.2% in the 1st quarter. Strs Ohio now owns 3,200 shares of the company’s stock valued at $288,000 after acquiring an additional 1,900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Churchill Downs by 4,057.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,442 shares of the company’s stock valued at $672,000 after acquiring an additional 7,263 shares during the period. Bank of Montreal Can lifted its position in shares of Churchill Downs by 110.8% during the 1st quarter. Bank of Montreal Can now owns 1,031 shares of the company’s stock valued at $93,000 after acquiring an additional 542 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Churchill Downs by 139.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,098 shares of the company’s stock valued at $189,000 after acquiring an additional 1,220 shares during the period. 71.45% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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