Zacks Investment Research upgraded shares of Churchill Downs Inc. (NASDAQ:CHDN) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning. They currently have $167.00 target price on the stock.
According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
CHDN has been the topic of a number of other research reports. Gabelli raised Churchill Downs from a hold rating to a buy rating in a research note on Friday, August 5th. JPMorgan Chase & Co. began coverage on Churchill Downs in a research note on Thursday, September 22nd. They issued a neutral rating and a $160.00 price target on the stock. Finally, Telsey Advisory Group increased their price target on Churchill Downs from $173.00 to $176.00 and gave the company an outperform rating in a research note on Friday, August 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Churchill Downs currently has a consensus rating of Buy and an average target price of $161.60.
Churchill Downs (NASDAQ:CHDN) opened at 143.63 on Wednesday. The firm has a 50-day moving average price of $148.28 and a 200-day moving average price of $137.48. Churchill Downs has a 52 week low of $118.76 and a 52 week high of $152.98. The stock has a market cap of $2.37 billion, a P/E ratio of 29.35 and a beta of 0.89.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $4.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.55. The firm had revenue of $438.50 million for the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $3.10 EPS. On average, equities research analysts predict that Churchill Downs will post $5.94 EPS for the current year.
In related news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $148.75, for a total transaction of $743,750.00. Following the sale, the director now owns 189,235 shares of the company’s stock, valued at approximately $28,148,706.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.05% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Churchill Downs during the first quarter valued at approximately $104,000. BlackRock Inc. increased its stake in shares of Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock valued at $133,000 after buying an additional 501 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Churchill Downs during the second quarter valued at approximately $140,000. Advantus Capital Management Inc acquired a new stake in shares of Churchill Downs during the second quarter valued at approximately $184,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Churchill Downs during the second quarter valued at approximately $202,000. 72.13% of the stock is currently owned by institutional investors and hedge funds.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Churchill Downs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.