Shares of International Speedway Corp (NASDAQ:ISCA) have been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $33.50.
A number of equities research analysts have recently weighed in on ISCA shares. Wells Fargo & Co downgraded International Speedway from a “market perform” rating to an “underperform” rating and set a $41.00 target price for the company. in a research report on Monday, July 15th. Zacks Investment Research upgraded International Speedway from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded International Speedway from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, ValuEngine downgraded International Speedway from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.
In related news, VP Derek Muldowney sold 2,594 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 9,778 shares in the company, valued at $441,183.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 44.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ISCA. Geode Capital Management LLC increased its holdings in shares of International Speedway by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 281,426 shares of the company’s stock valued at $12,343,000 after acquiring an additional 24,106 shares during the period. Principal Financial Group Inc. boosted its position in shares of International Speedway by 4.8% in the 4th quarter. Principal Financial Group Inc. now owns 117,063 shares of the company’s stock worth $5,134,000 after buying an additional 5,335 shares in the last quarter. Bank of America Corp DE boosted its position in shares of International Speedway by 171.5% in the 4th quarter. Bank of America Corp DE now owns 59,436 shares of the company’s stock worth $2,606,000 after buying an additional 37,548 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of International Speedway in the 4th quarter worth about $251,000. Finally, Legal & General Group Plc boosted its position in shares of International Speedway by 2.5% in the 4th quarter. Legal & General Group Plc now owns 25,637 shares of the company’s stock worth $1,125,000 after buying an additional 617 shares in the last quarter. Institutional investors and hedge funds own 50.68% of the company’s stock.
International Speedway stock traded down $0.24 on Friday, reaching $44.96. The company’s stock had a trading volume of 6,681 shares, compared to its average volume of 144,143. 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 stock has a market capitalization of $1.96 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 7.95 and a beta of 0.69. The company’s fifty day moving average is $45.11. International Speedway has a twelve month low of $35.12 and a twelve month high of $45.62.
International Speedway (NASDAQ:ISCA) last released its earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share 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 the consensus estimate of $178.99 million. International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that International Speedway will post 1.89 earnings per share for the current year.
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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