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. Wells Fargo & Company currently has $141.00 target price on the stock, up from their previous target price of $137.00.

Other research analysts have also issued research reports about the company. Mizuho assumed coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a buy rating and a $142.00 target price for the company. JMP Securities reaffirmed a market outperform rating and set a $150.00 price target on shares of Churchill Downs in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $143.13.

Churchill Downs Trading Down 1.5 %

CHDN opened at $119.30 on Monday. The firm has a market cap of $8.79 billion, a P/E ratio of 21.87, a P/E/G ratio of 8.64 and a beta of 1.03. 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 50-day moving average of $119.59 and a 200 day moving average of $120.28.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, research analysts forecast that Churchill Downs will post 5.48 EPS for the current year.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its position in Churchill Downs by 90.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after purchasing an additional 10,868 shares during the period. Envestnet Asset Management Inc. grew its position in Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after purchasing an additional 38,298 shares during the period. Vanguard Group Inc. grew its position in Churchill Downs by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after purchasing an additional 56,318 shares during the period. Fifth Third Bancorp grew its position in Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Churchill Downs by 5.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 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.