Churchill Downs (NASDAQ:CHDN) Stock Rating Upgraded by Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) was upgraded by equities researchers at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also weighed in on CHDN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Susquehanna reaffirmed a “positive” rating and issued a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Barclays increased their price objective on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. reduced their target price on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Mizuho upped their target price on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $133.30.

Churchill Downs Stock Performance

Shares of CHDN opened at $102.72 on Monday. Churchill Downs has a 52-week low of $85.58 and a 52-week high of $144.23. The stock’s 50-day simple moving average is $96.67 and its 200 day simple moving average is $99.60. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to analyst estimates of $671.43 million. During the same quarter in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Churchill Downs will post 6.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently made changes to their positions in CHDN. Signaturefd LLC boosted its position in shares of Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after acquiring an additional 203 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Churchill Downs by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock valued at $68,359,000 after acquiring an additional 10,108 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Churchill Downs in the 2nd quarter worth $593,000. LPL Financial LLC boosted its holdings in shares of Churchill Downs by 51.5% during the 1st quarter. LPL Financial LLC now owns 61,158 shares of the company’s stock valued at $6,793,000 after purchasing an additional 20,802 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Churchill Downs by 192.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,879 shares of the company’s stock valued at $1,251,000 after purchasing an additional 7,811 shares during 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.