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

Several other research firms have also weighed in on CHDN. Telsey Advisory Group reissued a “market perform” rating and issued a $93.00 target price (down previously from $280.00) on shares of Churchill Downs in a research note on Friday, March 1st. Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. BidaskClub lowered Churchill Downs from a “hold” rating to a “sell” rating in a research note on Saturday, March 16th. Jefferies Financial Group set a $106.00 target price on Churchill Downs and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. set a $105.00 price target on Churchill Downs and gave the stock a “hold” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Churchill Downs currently has an average rating of “Hold” and an average target price of $104.42.

NASDAQ:CHDN opened at $96.00 on Tuesday. Churchill Downs has a 1-year low of $74.58 and a 1-year high of $104.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.09 and a beta of 1.21.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $265.40 million for the quarter, compared to analyst estimates of $250.57 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 40.2% on a year-over-year basis. Research analysts anticipate that Churchill Downs will post 4.4 EPS for the current year.

In other Churchill Downs news, Director Karole Lloyd purchased 1,000 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $85.22 per share, for a total transaction of $85,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Alex Rankin purchased 500 shares of the stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $101.83 per share, with a total value of $50,915.00. The disclosure for this purchase can be found here. 13.05% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of Churchill Downs by 18.4% in the fourth quarter. Bank of Montreal Can now owns 489 shares of the company’s stock worth $119,000 after acquiring an additional 76 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Churchill Downs by 50.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 238 shares of the company’s stock worth $58,000 after buying an additional 80 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Churchill Downs during the fourth quarter worth about $37,000. Gemmer Asset Management LLC grew its holdings in shares of Churchill Downs by 200.0% during the first quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings 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 buying an additional 207 shares in the last quarter. Institutional investors own 29.47% of the company’s stock.

Churchill Downs Company Profile

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.

Further Reading: Initial Public Offering (IPO)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.