Churchill Downs Reaches New 52-Week High (CHDN)

NEW YORK ( TheStreet) -- Churchill Downs (Nasdaq: CHDN) hit a new 52-week high Wednesday as it is currently trading at $62.83, above its previous 52-week high of $62.82 with 5,619 shares traded as of 10:07 a.m. ET. Average volume has been 60,400 shares over the past 30 days.

Churchill Downs has a market cap of $1.05 billion and is part of the services sector and leisure industry. Shares are up 16.4% year to date as of the close of trading on Tuesday.

Churchill Downs Incorporated engages in the pari-mutuel horseracing, casino gaming, and entertainment businesses. It offers gaming products through its casinos in Mississippi; and slot and video poker operations in Louisiana and Florida. The company has a P/E ratio of 15.7, above the average leisure industry P/E ratio of 15.1 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Churchill Downs as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, solid stock price performance, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Churchill Downs Ratings Report.

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