Churchill Downs (NASDAQ:CHDN) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Churchill Downs (NASDAQ:CHDN) from an equal weight rating to an overweight rating in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has $141.00 target price on the stock, up from their prior target price of $137.00.

Several other brokerages have also recently weighed in on CHDN. Mizuho began coverage on Churchill Downs in a report on Tuesday, March 26th. They set a buy rating and a $142.00 target price for the company. JMP Securities restated a market outperform rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Churchill Downs presently has an average rating of Moderate Buy and a consensus price target of $143.13.

Churchill Downs Price Performance

CHDN opened at $119.30 on Monday. The stock has a 50-day moving average price of $119.59 and a 200-day moving average price of $120.28. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $150.45. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34. The stock has a market capitalization of $8.79 billion, a P/E ratio of 21.87, a PEG ratio of 8.64 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.18. The company had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. Equities analysts predict that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently bought and sold shares of CHDN. Cambridge Investment Research Advisors Inc. lifted its holdings in Churchill Downs by 16.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock worth $996,000 after buying an additional 631 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Churchill Downs by 78.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock worth $152,000 after buying an additional 300 shares during the period. Citigroup Inc. lifted its holdings in Churchill Downs by 24.8% in the 1st quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock worth $4,845,000 after buying an additional 4,345 shares during the period. BlackRock Inc. lifted its holdings in Churchill Downs by 2.2% in the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after buying an additional 73,505 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Churchill Downs by 8.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock worth $4,389,000 after buying an additional 1,467 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

About Churchill Downs

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.