Churchill Downs (NASDAQ:CHDN) Stock Rating Lowered by StockNews.com

Churchill Downs (NASDAQ:CHDN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Trading Down 0.9 %

NASDAQ CHDN traded down $0.96 during trading on Tuesday, reaching $108.60. 826,623 shares of the stock traded hands, compared to its average volume of 470,011. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The stock’s 50-day moving average price is $122.44 and its 200 day moving average price is $132.69. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs has a fifty-two week low of $107.05 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Analysts predict that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

A number of institutional investors have recently made changes to their positions in CHDN. Atria Investments Inc raised its position in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after purchasing an additional 224 shares during the period. Venturi Wealth Management LLC grew its stake in Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after buying an additional 90 shares in the last quarter. Versor Investments LP acquired a new stake in Churchill Downs during the third quarter worth about $473,000. WCM Investment Management LLC acquired a new stake in Churchill Downs during the third quarter worth about $15,231,000. Finally, Winslow Asset Management Inc. grew its stake in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after buying an additional 90 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.