International Speedway (NASDAQ:ISCA) Rating Lowered to Hold at BidaskClub

Share on StockTwits

International Speedway (NASDAQ:ISCA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

ISCA has been the subject of several other research reports. Zacks Investment Research raised International Speedway from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Co cut International Speedway from a “market perform” rating to an “underperform” rating and set a $41.00 price objective for the company. in a research report on Monday, July 15th. Finally, ValuEngine cut International Speedway from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Shares of NASDAQ:ISCA opened at $45.05 on Tuesday. International Speedway has a fifty-two week low of $35.12 and a fifty-two week high of $45.62. The business has a 50-day moving average of $45.13 and a two-hundred day moving average of $44.24. The stock has a market capitalization of $1.96 billion, a P/E ratio of 24.35, a P/E/G ratio of 7.95 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.77 and a quick ratio of 2.77.

International Speedway (NASDAQ:ISCA) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The business had revenue of $168.10 million for the quarter, compared to analyst estimates of $178.99 million. During the same period in the prior year, the firm posted $0.37 EPS. International Speedway’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts expect that International Speedway will post 1.89 EPS for the current fiscal year.

In related news, VP Derek Muldowney sold 2,594 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $45.12, for a total transaction of $117,041.28. Following the completion of the transaction, the vice president now owns 9,778 shares of the company’s stock, valued at approximately $441,183.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 44.70% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. UBS Group AG lifted its stake 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 valued at $13,648,000 after purchasing an additional 144,162 shares during the period. Verition Fund Management LLC lifted its stake in shares of International Speedway by 93.5% in the 2nd quarter. Verition Fund Management LLC now owns 28,038 shares of the company’s stock valued at $1,259,000 after purchasing an additional 13,549 shares during the period. United Services Automobile Association lifted its stake in shares of International Speedway by 11.5% in the 2nd quarter. United Services Automobile Association now owns 8,357 shares of the company’s stock valued at $375,000 after purchasing an additional 862 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of International Speedway in the 2nd quarter valued at $6,305,000. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of International Speedway by 20.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,767 shares of the company’s stock valued at $1,291,000 after purchasing an additional 4,801 shares during the period. 50.13% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: What does a neutral rating on stocks mean?

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