International Speedway (NASDAQ:ISCA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation’s major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the DAYTONA 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond Raceway in Virginia; Auto Club Speedway of Southern CaliforniaSM near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix Raceway in Arizona; Chicagoland Speedway and Route 66 RacewaySM near Chicago, Illinois; Darlington Raceway in South Carolina; and Watkins Glen International in New York. The Company also owns and operates Motor Racing NetworkSM, the nation’s largest independent sports radio network and Americrown Service CorporationSM, a subsidiary that provides catering services, and food and beverage concessions. “
Several other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of International Speedway from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine raised shares of International Speedway from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Citigroup raised shares of International Speedway from a “sell” rating to a “neutral” rating in a report on Tuesday, October 9th. Finally, Pivotal Research downgraded shares of International Speedway from a “hold” rating to a “sell” rating and set a $26.00 price objective on the stock. in a report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. International Speedway has a consensus rating of “Hold” and a consensus price target of $38.67.
NASDAQ ISCA opened at $42.32 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 19.94 and a beta of 1.22. International Speedway has a 52 week low of $35.12 and a 52 week high of $49.95. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16.
International Speedway (NASDAQ:ISCA) last released its quarterly earnings data on Thursday, October 4th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The business had revenue of $159.30 million for the quarter, compared to the consensus estimate of $152.93 million. International Speedway had a net margin of 38.82% and a return on equity of 5.59%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, analysts anticipate that International Speedway will post 1.94 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ISCA. Principal Financial Group Inc. increased its position in shares of International Speedway by 3.4% during the first quarter. Principal Financial Group Inc. now owns 113,240 shares of the company’s stock valued at $4,994,000 after buying an additional 3,755 shares during the period. Aperio Group LLC increased its position in shares of International Speedway by 9.4% during the second quarter. Aperio Group LLC now owns 17,609 shares of the company’s stock valued at $787,000 after buying an additional 1,513 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of International Speedway during the second quarter valued at about $349,000. First Trust Advisors LP increased its position in shares of International Speedway by 93.8% during the second quarter. First Trust Advisors LP now owns 116,210 shares of the company’s stock valued at $5,195,000 after buying an additional 56,244 shares during the period. Finally, KBC Group NV increased its position in shares of International Speedway by 5.6% during the second quarter. KBC Group NV now owns 30,091 shares of the company’s stock valued at $1,345,000 after buying an additional 1,602 shares during the period. 50.39% of the stock is currently owned by institutional investors and hedge funds.
International Speedway Company Profile
International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events.
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