Churchill Downs (CHDN) Cut to Sell at BidaskClub

BidaskClub lowered shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a sell rating in a research report report published on Wednesday morning, BidAskClub reports.

Several other research firms also recently commented on CHDN. Zacks Investment Research downgraded shares of Churchill Downs from a buy rating to a hold rating in a research note on Wednesday, January 16th. Telsey Advisory Group reaffirmed a market perform rating and issued a $93.00 price target (down previously from $280.00) on shares of Churchill Downs in a research note on Friday, March 1st. JPMorgan Chase & Co. set a $105.00 price target on shares of Churchill Downs and gave the stock a hold rating in a research note on Friday, March 1st. ValuEngine raised shares of Churchill Downs from a sell rating to a hold rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group set a $106.00 price target on shares of Churchill Downs and gave the stock a buy rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $101.42.

Shares of CHDN opened at $99.91 on Wednesday. Churchill Downs has a twelve month low of $74.58 and a twelve month high of $104.87. The firm has a market capitalization of $4.03 billion, a PE ratio of 27.45, a PEG ratio of 1.05 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.86.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.23. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $250.57 million. Churchill Downs had a net margin of 34.97% and a return on equity of 33.95%. The firm’s revenue was up 40.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. On average, equities research analysts predict that Churchill Downs will post 4.26 earnings per share for the current year.

In related news, Director Karole Lloyd purchased 1,000 shares of Churchill Downs stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $85.22 per share, with a total value of $85,220.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.05% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in Churchill Downs by 18.4% during the 4th quarter. Bank of Montreal Can now owns 489 shares of the company’s stock worth $119,000 after acquiring an additional 76 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Churchill Downs by 50.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 238 shares of the company’s stock worth $58,000 after acquiring an additional 80 shares in the last quarter. Advisory Services Network LLC bought a new position in Churchill Downs during the 4th quarter worth about $37,000. Gemmer Asset Management LLC grew its holdings in Churchill Downs by 200.0% during the 1st quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Churchill Downs by 107.8% during the 4th quarter. IFP Advisors Inc now owns 399 shares of the company’s stock worth $95,000 after acquiring an additional 207 shares in the last quarter. Institutional investors own 24.77% 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, 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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