Churchill Downs, Inc. (NASDAQ:CHDN) Given Average Recommendation of “Hold” by Analysts

Churchill Downs, Inc. (NASDAQ:CHDN) has been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $132.50.

CHDN has been the subject of a number of research reports. Telsey Advisory Group boosted their price target on Churchill Downs from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 1st. Jefferies Financial Group boosted their price objective on Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. ValuEngine cut Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd.

In other Churchill Downs news, SVP Austin W. Miller sold 5,900 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $117.31, for a total transaction of $692,129.00. Following the transaction, the senior vice president now owns 40,494 shares in the company, valued at $4,750,351.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.05% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Oakworth Capital Inc. lifted its stake in shares of Churchill Downs by 200.0% in the first quarter. Oakworth Capital Inc. now owns 900 shares of the company’s stock worth $81,000 after acquiring an additional 600 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Churchill Downs by 206.8% in the first quarter. Systematic Financial Management LP now owns 198,109 shares of the company’s stock worth $17,881,000 after acquiring an additional 133,526 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Churchill Downs by 12.2% in the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Churchill Downs by 139.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,098 shares of the company’s stock worth $189,000 after acquiring an additional 1,220 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Churchill Downs by 198.0% in the first quarter. MetLife Investment Advisors LLC now owns 36,489 shares of the company’s stock worth $3,294,000 after acquiring an additional 24,246 shares in the last quarter. Institutional investors own 71.86% of the company’s stock.

CHDN stock traded down $2.71 during trading on Friday, reaching $121.29. 223,266 shares of the stock traded hands, compared to its average volume of 244,473. The business’s 50 day moving average price is $119.06 and its 200-day moving average price is $102.82. Churchill Downs has a 52-week low of $74.58 and a 52-week high of $132.73. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $4.96 billion, a PE ratio of 33.32, a P/E/G ratio of 1.45 and a beta of 1.23.

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

Churchill Downs Company Profile

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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