BidaskClub Lowers International Speedway (NASDAQ:ISCA) to Sell

BidaskClub lowered shares of International Speedway (NASDAQ:ISCA) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other analysts have also recently commented on ISCA. Wells Fargo & Co cut shares of International Speedway from a market perform rating to an underperform rating and set a $41.00 target price for the company. in a research note on Monday, July 15th. Zacks Investment Research downgraded International Speedway from a hold rating to a sell rating in a report on Friday, August 30th. Finally, ValuEngine lowered International Speedway from a buy rating to a hold rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of Sell and a consensus target price of $33.50.

NASDAQ:ISCA opened at $45.03 on Friday. International Speedway has a 12-month low of $35.12 and a 12-month high of $45.62. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 7.93 and a beta of 0.65. The company’s 50-day moving average is $45.12 and its two-hundred day moving average is $44.39. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15.

International Speedway (NASDAQ:ISCA) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $178.99 million. International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. On average, equities research analysts forecast that International Speedway will post 1.89 earnings per share for the current fiscal year.

In other news, VP Derek Muldowney sold 2,594 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $45.12, for a total transaction of $117,041.28. Following the transaction, the vice president now directly owns 9,778 shares in the company, valued at approximately $441,183.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 44.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. ARP Americas LP acquired a new position in International Speedway in the second quarter valued at $24,380,000. Water Island Capital LLC purchased a new position in shares of International Speedway in the 2nd quarter worth about $12,456,000. UBS Group AG raised its holdings in shares of International Speedway by 90.2% in the 2nd quarter. UBS Group AG now owns 304,031 shares of the company’s stock worth $13,648,000 after purchasing an additional 144,162 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of International Speedway in the 2nd quarter valued at about $6,305,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of International Speedway in the 2nd quarter valued at about $3,380,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

About International Speedway

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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