Churchill Downs Inc. (CHDN) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
A number of other equities analysts also recently weighed in on the stock. Telsey Advisory Group boosted their target price on shares of Churchill Downs from $173.00 to $176.00 and gave the stock an outperform rating in a report on Friday, August 5th. Gabelli upgraded shares of Churchill Downs from a hold rating to a buy rating in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They set a neutral rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $161.60.
Shares of Churchill Downs (NASDAQ:CHDN) traded down 0.27% during mid-day trading on Monday, reaching $144.53. 18,762 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $148.18 and its 200-day moving average is $137.41. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 29.53 and a beta of 0.89. Churchill Downs has a 52-week low of $118.76 and a 52-week high of $152.98.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.55. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The company had revenue of $438.50 million for the quarter, compared to the consensus estimate of $435.37 million. During the same period last year, the company earned $3.10 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Churchill Downs will post $5.94 EPS for the current year.
In other news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the sale, the director now owns 194,235 shares of the company’s stock, valued at $28,649,662.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.05% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CHDN. BlackRock Fund Advisors boosted its stake in Churchill Downs by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock valued at $80,715,000 after buying an additional 334,299 shares in the last quarter. State Street Corp boosted its stake in Churchill Downs by 75.4% in the second quarter. State Street Corp now owns 404,048 shares of the company’s stock valued at $51,054,000 after buying an additional 173,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Churchill Downs by 192.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 203,404 shares of the company’s stock valued at $25,703,000 after buying an additional 133,965 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in Churchill Downs during the second quarter valued at $10,669,000. Finally, Bank of New York Mellon Corp boosted its stake in Churchill Downs by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 214,939 shares of the company’s stock valued at $27,160,000 after buying an additional 72,980 shares in the last quarter. 72.13% of the stock is owned by institutional investors and hedge funds.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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