Churchill Downs (NASDAQ:CHDN) Upgraded to Overweight by Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $141.00 price target on the stock, up from their prior price target of $137.00. Wells Fargo & Company's price objective would suggest a potential upside of 15.39% from the company's previous close.

A number of other brokerages also recently weighed in on CHDN. Mizuho initiated coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They issued a "buy" rating and a $142.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and issued a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.13.

Churchill Downs Stock Performance

NASDAQ CHDN traded up $1.46 on Monday, reaching $122.19. 459,128 shares of the company's stock traded hands, compared to its average volume of 366,839. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 22.61 and a beta of 1.03. The stock has a 50 day moving average price of $119.55 and a 200-day moving average price of $120.18. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $150.45. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.18. The business had revenue of $561.20 million during the quarter, compared to the consensus estimate of $553.05 million. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company's revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Equities research analysts predict that Churchill Downs will post 5.5 EPS for the current fiscal year.

Institutional Trading of Churchill Downs

Institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC grew its stake in Churchill Downs by 181.3% during the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company's stock valued at $58,000 after acquiring an additional 145 shares in the last quarter. Castleview Partners LLC purchased a new stake in Churchill Downs during the 2nd quarter valued at about $38,000. Rockefeller Capital Management L.P. grew its stake in Churchill Downs by 174.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company's stock valued at $59,000 after acquiring an additional 180 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Churchill Downs during the 4th quarter valued at about $39,000. Finally, Vestor Capital LLC purchased a new stake in Churchill Downs during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Company Profile

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.