ValuEngine Lowers Churchill Downs (CHDN) to Hold

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ValuEngine downgraded shares of Churchill Downs (NASDAQ:CHDN) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

A number of other brokerages have also commented on CHDN. BidaskClub lowered Churchill Downs from a buy rating to a hold rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded Churchill Downs from a hold rating to a buy rating and set a $335.00 target price for the company in a research note on Wednesday, July 11th. Jefferies Financial Group set a $317.00 target price on Churchill Downs and gave the company a hold rating in a research note on Monday, August 6th. Finally, Telsey Advisory Group upped their target price on Churchill Downs from $265.00 to $290.00 and gave the company a market perform rating in a research note on Monday, May 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of Hold and a consensus price target of $314.00.

Shares of NASDAQ CHDN opened at $278.95 on Wednesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $3.80 billion, a P/E ratio of 47.44, a PEG ratio of 1.31 and a beta of 0.97. Churchill Downs has a one year low of $185.80 and a one year high of $314.60.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in Churchill Downs by 12.5% during the second quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock worth $91,525,000 after acquiring an additional 34,295 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Churchill Downs by 6,355.0% during the second quarter. Advisors Asset Management Inc. now owns 225,991 shares of the company’s stock worth $1,238,000 after acquiring an additional 222,490 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Churchill Downs by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 207,251 shares of the company’s stock worth $61,449,000 after acquiring an additional 2,427 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Churchill Downs by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 128,462 shares of the company’s stock worth $38,087,000 after acquiring an additional 3,671 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in Churchill Downs by 0.9% during the first quarter. Loomis Sayles & Co. L P now owns 98,862 shares of the company’s stock worth $24,127,000 after acquiring an additional 903 shares in the last quarter. Hedge funds and other institutional investors own 69.91% of the company’s stock.

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, 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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