Recent Research Analysts’ Ratings Updates for Churchill Downs (CHDN)

A number of firms have modified their ratings and price targets on shares of Churchill Downs (NASDAQ: CHDN) recently:

  • 7/17/2019 – Churchill Downs was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution. “
  • 7/16/2019 – Churchill Downs was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $131.00 price target on the stock. According to Zacks, “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution. “
  • 7/2/2019 – Churchill Downs was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/2/2019 – Churchill Downs was given a new $126.00 price target on by analysts at Jefferies Financial Group Inc. They now have a “buy” rating on the stock.
  • 7/1/2019 – Churchill Downs had its price target raised by analysts at Telsey Advisory Group from $120.00 to $135.00. They now have an “outperform” rating on the stock.
  • 6/26/2019 – Churchill Downs was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution. “
  • 6/24/2019 – Churchill Downs was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/19/2019 – Churchill Downs was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $133.00 price target on the stock. According to Zacks, “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution. “
  • 6/7/2019 – Churchill Downs had its price target raised by analysts at Jefferies Financial Group Inc from $110.00 to $126.00. They now have a “buy” rating on the stock.
  • 6/7/2019 – Churchill Downs was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/5/2019 – Churchill Downs was upgraded by analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating. They now have a $120.00 price target on the stock, up previously from $108.00.
  • 6/4/2019 – Churchill Downs was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

CHDN stock traded down $1.99 during trading on Friday, reaching $115.74. The stock had a trading volume of 5,465 shares, compared to its average volume of 217,713. Churchill Downs, Inc. has a one year low of $74.58 and a one year high of $118.89. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50 day moving average price of $112.98. The stock has a market cap of $4.71 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.23. Churchill Downs had a net margin of 16.81% and a return on equity of 33.97%. The firm had revenue of $265.40 million for the quarter, compared to analyst estimates of $250.57 million. During the same period in the previous year, the firm earned $1.09 EPS. Churchill Downs’s revenue was up 40.2% on a year-over-year basis. Equities research analysts anticipate that Churchill Downs, Inc. will post 4.4 EPS for the current year.

In related news, Director R Alex Rankin purchased 500 shares of Churchill Downs stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $101.83 per share, with a total value of $50,915.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $692,129.00. Following the completion of the sale, the senior vice president now directly owns 40,494 shares of the company’s stock, valued at approximately $4,750,351.14. The disclosure for this sale can be found here. Insiders own 13.05% of the company’s stock.

Large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Churchill Downs by 203.0% during the first quarter. BlackRock Inc. now owns 4,077,620 shares of the company’s stock worth $368,046,000 after buying an additional 2,731,814 shares during the last quarter. FMR LLC raised its stake in Churchill Downs by 409.3% during the first quarter. FMR LLC now owns 793,264 shares of the company’s stock valued at $71,600,000 after purchasing an additional 637,495 shares in the last quarter. Acadian Asset Management LLC raised its stake in Churchill Downs by 154.2% during the first quarter. Acadian Asset Management LLC now owns 615,395 shares of the company’s stock valued at $55,547,000 after purchasing an additional 373,260 shares in the last quarter. Emerald Advisers LLC raised its stake in Churchill Downs by 312.5% during the first quarter. Emerald Advisers LLC now owns 323,007 shares of the company’s stock valued at $29,155,000 after purchasing an additional 244,708 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Churchill Downs by 200.0% during the first quarter. Gamco Investors INC. ET AL now owns 345,588 shares of the company’s stock valued at $31,193,000 after purchasing an additional 230,385 shares in the last quarter. 71.74% of the stock is owned by institutional investors.

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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