Churchill Downs (NASDAQ:CHDN) Trading 3.4% Higher

Churchill Downs Incorporated (NASDAQ:CHDN) shot up 3.4% during trading on Monday . The stock traded as high as $125.10 and last traded at $124.88. 135,595 shares were traded during mid-day trading, a decline of 63% from the average session volume of 362,028 shares. The stock had previously closed at $120.73.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CHDN shares. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $137.00 to $141.00 in a report on Monday. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a research note on Wednesday, April 10th. Finally, Mizuho started coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.13.

Churchill Downs Stock Up 1.6 %

The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. The business’s fifty day moving average price is $119.68 and its 200 day moving average price is $120.28. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. The business had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. On average, equities analysts expect that Churchill Downs Incorporated will post 5.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CHDN. Capital Research Global Investors raised its holdings in Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Churchill Downs by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Churchill Downs by 2.2% in the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock valued at $749,830,000 after buying an additional 73,505 shares during the period. Capital International Investors grew its holdings in Churchill Downs by 6.1% during the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock worth $321,508,000 after acquiring an additional 136,197 shares during the period. Finally, State Street Corp raised its position in Churchill Downs by 99.5% in the second quarter. State Street Corp now owns 1,838,002 shares of the company’s stock worth $255,795,000 after acquiring an additional 916,516 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Company Profile

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; and casino gaming.