Churchill Downs (CHDN) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Churchill Downs (NASDAQ:CHDN) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

A number of other research analysts also recently commented on CHDN. Zacks Investment Research raised shares of Churchill Downs from a hold rating to a buy rating and set a $239.00 target price on the stock in a research report on Wednesday, November 8th. Jefferies Group initiated coverage on shares of Churchill Downs in a research report on Thursday, January 18th. They set a hold rating and a $261.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Churchill Downs presently has an average rating of Buy and an average price target of $240.25.

Churchill Downs (NASDAQ:CHDN) opened at $244.15 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77. The company has a market cap of $3,762.35, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. Churchill Downs has a 12-month low of $141.80 and a 12-month high of $260.52.

Churchill Downs declared that its board has approved a share repurchase plan on Wednesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHDN. Ameriprise Financial Inc. boosted its holdings in shares of Churchill Downs by 4.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 34,431 shares of the company’s stock valued at $6,310,000 after buying an additional 1,601 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Churchill Downs by 7.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,500 shares of the company’s stock valued at $458,000 after buying an additional 180 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Churchill Downs by 2.8% in the 2nd quarter. New York State Common Retirement Fund now owns 14,800 shares of the company’s stock valued at $2,713,000 after buying an additional 399 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Churchill Downs by 11.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,365 shares of the company’s stock valued at $1,167,000 after buying an additional 675 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Churchill Downs by 352.2% in the 2nd quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after buying an additional 560 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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About Churchill Downs

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.

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