Churchill Downs (NASDAQ:CHDN) had its price objective lowered by research analysts at Telsey Advisory Group from $290.00 to $280.00 in a report released on Wednesday. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 7.56% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Jefferies Financial Group set a $317.00 price objective on shares of Churchill Downs and gave the company a “hold” rating in a report on Monday, August 6th. BidaskClub raised shares of Churchill Downs from a “strong sell” rating to a “sell” rating in a report on Saturday, September 15th. Finally, ValuEngine downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $313.33.

NASDAQ CHDN opened at $260.31 on Wednesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. Churchill Downs has a 52 week low of $212.45 and a 52 week high of $314.60. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.71.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.43). The business had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $208.87 million. Churchill Downs had a net margin of 39.18% and a return on equity of 30.33%. Churchill Downs’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, analysts anticipate that Churchill Downs will post 10.82 earnings per share for the current fiscal year.

In related news, Director Richard L. Duchossois purchased 1,900 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were purchased at an average cost of $265.83 per share, for a total transaction of $505,077.00. Following the completion of the transaction, the director now directly owns 8,550 shares in the company, valued at approximately $2,272,846.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard L. Duchossois purchased 3,700 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $271.47 per share, for a total transaction of $1,004,439.00. Following the completion of the transaction, the director now owns 12,137 shares of the company’s stock, valued at $3,294,831.39. The disclosure for this purchase can be found here. Corporate insiders own 13.78% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC bought a new position in shares of Churchill Downs during the first quarter worth about $503,000. Legal & General Group Plc lifted its position in shares of Churchill Downs by 3.6% during the first quarter. Legal & General Group Plc now owns 12,179 shares of the company’s stock worth $2,972,000 after purchasing an additional 424 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Churchill Downs by 8,402.9% during the first quarter. Royal Bank of Canada now owns 8,673 shares of the company’s stock worth $2,117,000 after purchasing an additional 8,571 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Churchill Downs by 232.7% during the second quarter. Bank of Montreal Can now owns 1,078 shares of the company’s stock worth $320,000 after purchasing an additional 754 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Churchill Downs by 12.5% during the second quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock worth $91,525,000 after purchasing an additional 34,295 shares during the last quarter. Hedge funds and other institutional investors own 69.55% 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, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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