Shares of International Speedway Corp (NASDAQ:ISCA) have been assigned an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.50.
ISCA has been the subject of a number of recent analyst reports. ValuEngine cut International Speedway from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised International Speedway from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co cut International Speedway from a “market perform” rating to an “underperform” rating and set a $41.00 price target for the company. in a research note on Monday, July 15th. Finally, BidaskClub raised International Speedway from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.
NASDAQ:ISCA traded up $0.10 on Friday, hitting $45.10. 258,832 shares of the stock were exchanged, compared to its average volume of 143,943. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 7.97 and a beta of 0.69. International Speedway has a 52 week low of $35.12 and a 52 week high of $45.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 2.77. The company’s 50-day moving average price is $45.13 and its 200 day moving average price is $44.21.
International Speedway (NASDAQ:ISCA) last announced 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 company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $178.99 million. International Speedway had a net margin of 11.27% and a return on equity of 4.82%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, equities research analysts predict that International Speedway will post 1.89 earnings per share for the current year.
In related news, VP Derek Muldowney sold 2,594 shares of the business’s stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. 44.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association increased its position in International Speedway by 11.5% during the 2nd quarter. United Services Automobile Association now owns 8,357 shares of the company’s stock worth $375,000 after buying an additional 862 shares during the period. Nuveen Asset Management LLC bought a new position in International Speedway during the 2nd quarter worth $6,305,000. UBS Asset Management Americas Inc. increased its position in International Speedway by 20.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,767 shares of the company’s stock worth $1,291,000 after buying an additional 4,801 shares during the period. Citadel Advisors LLC increased its position in International Speedway by 43.0% during the 2nd quarter. Citadel Advisors LLC now owns 17,525 shares of the company’s stock worth $787,000 after buying an additional 5,273 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in International Speedway by 120.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,659 shares of the company’s stock worth $478,000 after buying an additional 5,828 shares during the period. Institutional investors and hedge funds own 50.68% 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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