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

Churchill Downs (NASDAQ:CHDN) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The firm currently has a $141.00 price objective on the stock, up from their prior price objective of $137.00. Wells Fargo & Company‘s price objective points to a potential upside of 13.62% from the stock’s previous close.

CHDN has been the topic of a number of other reports. Mizuho started coverage on Churchill Downs in a research report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.13.

Churchill Downs Stock Up 1.6 %

CHDN opened at $124.10 on Monday. The business has a 50 day moving average price of $119.68 and a 200 day moving average price of $120.28. Churchill Downs has a twelve month low of $106.45 and a twelve month 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. The firm has a market cap of $9.14 billion, a P/E ratio of 22.75 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. The company had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. Research analysts forecast that Churchill Downs will post 5.5 EPS for the current year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors have recently made changes to their positions in the stock. Castleview Partners LLC acquired a new position in Churchill Downs during the second quarter valued at approximately $38,000. Benjamin F. Edwards & Company Inc. acquired a new position in Churchill Downs during the fourth quarter valued at approximately $39,000. Vestor Capital LLC acquired a new position in Churchill Downs during the fourth quarter valued at approximately $45,000. Belpointe Asset Management LLC raised its position in Churchill Downs by 181.3% during the first quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after purchasing an additional 145 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Churchill Downs by 174.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after purchasing an additional 180 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

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.