Churchill Downs (NASDAQ:CHDN) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

A number of other equities research analysts have also recently commented on CHDN. Zacks Investment Research cut Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. BidaskClub upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Telsey Advisory Group restated a “market perform” rating and set a $105.00 target price (up from $93.00) on shares of Churchill Downs in a research report on Tuesday, April 30th. JPMorgan Chase & Co. set a $105.00 target price on Churchill Downs and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group set a $106.00 target price on Churchill Downs and gave the company a “buy” rating in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Churchill Downs presently has a consensus rating of “Hold” and a consensus price target of $104.42.

CHDN traded up $3.64 during midday trading on Tuesday, hitting $102.78. 501,058 shares of the company were exchanged, compared to its average volume of 287,726. The company has a market capitalization of $4.13 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.12 and a beta of 1.17. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.87 and a current ratio of 0.87. Churchill Downs has a 1-year low of $74.58 and a 1-year high of $102.98.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.23. Churchill Downs had a return on equity of 33.97% and a net margin of 16.81%. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $250.57 million. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. Analysts forecast that Churchill Downs will post 4.4 EPS for the current year.

In other Churchill Downs news, Director Karole Lloyd bought 1,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $85.22 per share, for a total transaction of $85,220.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R Alex Rankin bought 500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $101.83 per share, for a total transaction of $50,915.00. The disclosure for this purchase can be found here. 13.05% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Churchill Downs by 18.4% during the fourth quarter. Bank of Montreal Can now owns 489 shares of the company’s stock worth $119,000 after purchasing an additional 76 shares during the period. IFP Advisors Inc raised its position in shares of Churchill Downs by 107.8% during the fourth quarter. IFP Advisors Inc now owns 399 shares of the company’s stock worth $95,000 after purchasing an additional 207 shares during the period. Strs Ohio raised its position in shares of Churchill Downs by 30.0% during the fourth quarter. Strs Ohio now owns 1,300 shares of the company’s stock worth $317,000 after purchasing an additional 300 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Churchill Downs by 28.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 2,213 shares of the company’s stock worth $539,000 after purchasing an additional 490 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Churchill Downs by 60.7% during the fourth quarter. Rhumbline Advisers now owns 37,720 shares of the company’s stock worth $9,201,000 after purchasing an additional 14,242 shares during the period. Hedge funds and other institutional investors own 72.24% 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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