Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded Churchill Downs from a “b-” rating to a “c+” rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. upgraded Churchill Downs from a “neutral” rating to an “overweight” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $131.00.
Shares of Churchill Downs stock opened at $98.35 on Friday. The business has a 50-day moving average of $124.62 and a 200-day moving average of $130.21. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $3.52 billion, a PE ratio of 29.10, a P/E/G ratio of 1.23 and a beta of 1.23. Churchill Downs has a 1-year low of $52.90 and a 1-year high of $167.52.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 26th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.48. The company had revenue of $280.60 million during the quarter, compared to the consensus estimate of $258.63 million. Churchill Downs had a return on equity of 34.68% and a net margin of 10.34%. On average, equities analysts expect that Churchill Downs will post 3.61 earnings per share for the current fiscal year.
In other news, Director R Alex Rankin purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of $125.81 per share, for a total transaction of $125,810.00. Also, Director Paul C. Varga purchased 1,800 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average price of $77.59 per share, with a total value of $139,662.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $620,720. The disclosure for this purchase can be found here. Insiders purchased 5,300 shares of company stock valued at $525,957 over the last quarter. Insiders own 4.28% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in Churchill Downs in the fourth quarter worth about $27,000. Point72 Hong Kong Ltd bought a new position in Churchill Downs in the fourth quarter worth about $28,000. SRS Capital Advisors Inc. bought a new position in Churchill Downs in the fourth quarter worth about $49,000. Orion Portfolio Solutions LLC bought a new position in Churchill Downs in the fourth quarter worth about $54,000. Finally, Marshall Wace North America L.P. lifted its holdings in Churchill Downs by 200.0% in the first quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after acquiring an additional 520 shares during the last quarter. Institutional investors and hedge funds own 72.23% of the company’s stock.
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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