Churchill Downs (NASDAQ:CHDN) Stock Rating Upgraded by Wolfe Research

Churchill Downs (NASDAQ:CHDN) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $119.00 price objective on the stock. Wolfe Research’s price target points to a potential upside of 33.44% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a report on Friday, July 31st. Mizuho upped their price objective on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Susquehanna raised their target price on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Truist Financial set a $145.00 target price on shares of Churchill Downs in a report on Friday, June 12th. Finally, Citizens Jmp cut their price target on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.89.

Churchill Downs Stock Up 2.9%

CHDN opened at $89.18 on Wednesday. The business has a 50 day moving average price of $87.36 and a two-hundred day moving average price of $88.51. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The company has a market cap of $6.22 billion, a PE ratio of 15.30, a P/E/G ratio of 0.82 and a beta of 0.67. Churchill Downs has a 52 week low of $79.40 and a 52 week high of $118.35.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting the consensus estimate of $3.45. The company had revenue of $980.00 million for the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.10 EPS. As a group, research analysts anticipate that Churchill Downs will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC acquired a new position in shares of Churchill Downs during the 3rd quarter worth $25,000. Kimelman & Baird LLC purchased a new stake in Churchill Downs during the second quarter worth about $27,000. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Churchill Downs in the second quarter valued at about $29,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.