International Speedway (NASDAQ:ISCA) Upgraded to “Hold” at BidaskClub

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BidaskClub upgraded shares of International Speedway (NASDAQ:ISCA) from a sell rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Several other brokerages have also weighed in on ISCA. ValuEngine lowered International Speedway from a buy rating to a hold rating in a report on Thursday, August 1st. Wells Fargo & Co lowered International Speedway from a market perform rating to an underperform rating and set a $41.00 price objective on the stock. in a report on Monday, July 15th. Finally, Zacks Investment Research lowered International Speedway from a hold rating to a sell rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $41.00.

Shares of NASDAQ:ISCA opened at $44.95 on Tuesday. International Speedway has a 1-year low of $35.12 and a 1-year high of $45.62. The firm has a market capitalization of $1.97 billion, a PE ratio of 24.30, a PEG ratio of 7.97 and a beta of 0.65. The business’s 50 day moving average is $45.08 and its 200-day moving average is $44.45. 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 announced its quarterly earnings data on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $168.10 million for the quarter, compared to analyst estimates of $178.99 million. During the same period in the previous year, the business posted $0.37 EPS. International Speedway’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts predict that International Speedway will post 1.89 EPS for the current year.

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

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in International Speedway by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 17,314 shares of the company’s stock valued at $777,000 after buying an additional 241 shares in the last quarter. 6 Meridian boosted its stake in International Speedway by 2.4% in the 2nd quarter. 6 Meridian now owns 11,103 shares of the company’s stock valued at $498,000 after buying an additional 262 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in International Speedway by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,231 shares of the company’s stock valued at $280,000 after buying an additional 283 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in International Speedway by 3.3% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 9,415 shares of the company’s stock valued at $423,000 after buying an additional 300 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in International Speedway by 1.6% in the 2nd quarter. Aperio Group LLC now owns 23,014 shares of the company’s stock valued at $1,033,000 after buying an additional 357 shares in the last quarter. 47.75% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS)

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