Churchill Downs (NASDAQ:CHDN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, BidAskClub reports.

A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Wednesday, June 19th. Jefferies Financial Group lifted their price target on shares of Churchill Downs from $110.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Telsey Advisory Group raised shares of Churchill Downs from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $108.00 to $120.00 in a research report on Wednesday, June 5th. ValuEngine raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. set a $105.00 price target on shares of Churchill Downs and gave the company a “hold” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Churchill Downs has an average rating of “Buy” and a consensus target price of $121.00.

NASDAQ CHDN opened at $109.41 on Monday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $4.46 billion, a PE ratio of 30.06, a PEG ratio of 1.28 and a beta of 1.17. The company has a 50 day simple moving average of $103.70. Churchill Downs has a 12-month low of $74.58 and a 12-month high of $117.14.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.23. Churchill Downs had a net margin of 16.81% and a return on equity of 33.97%. The company had revenue of $265.40 million for the quarter, compared to analyst estimates of $250.57 million. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 40.2% compared to the same quarter last year. On average, analysts expect that Churchill Downs will post 4.4 EPS for the current fiscal year.

In other news, Director R Alex Rankin purchased 500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $101.83 per share, with a total value of $50,915.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Gemmer Asset Management LLC increased its position in Churchill Downs by 200.0% during the first quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 200 shares during the period. FinTrust Capital Advisors LLC bought a new position in Churchill Downs during the first quarter worth $27,000. Global Wealth Management Investment Advisory Inc. bought a new position in Churchill Downs during the first quarter worth $27,000. FTB Advisors Inc. increased its position in Churchill Downs by 248.0% during the first quarter. FTB Advisors Inc. now owns 355 shares of the company’s stock worth $31,000 after acquiring an additional 253 shares during the period. Finally, Advisory Services Network LLC bought a new position in Churchill Downs during the fourth quarter worth $37,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

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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