A number of other equities analysts have also weighed in on the stock. Wells Fargo & Co lowered 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 raised shares of International Speedway from a sell rating to a hold rating in a research note on Tuesday, August 13th. Finally, ValuEngine lowered shares of International Speedway from a buy rating to a hold rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of Hold and a consensus target price of $33.50.
Shares of ISCA stock opened at $45.01 on Tuesday. International Speedway has a 12-month low of $35.12 and a 12-month high of $45.62. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 7.94 and a beta of 0.69. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $45.13 and a 200-day moving average of $44.25.
International Speedway (NASDAQ:ISCA) last announced its earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The company had revenue of $168.10 million during the quarter, compared to analyst estimates of $178.99 million. International Speedway had a return on equity of 4.82% and a net margin of 11.27%. International Speedway’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Research analysts expect 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 company’s stock in a transaction on Wednesday, July 17th. The shares were 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 of the company’s stock, valued at approximately $441,183.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 44.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Arizona State Retirement System lifted its position in International Speedway by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 17,314 shares of the company’s stock worth $777,000 after buying an additional 241 shares in the last quarter. 6 Meridian raised its holdings in shares of 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 purchasing an additional 262 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 283 shares during the period. Stone Ridge Asset Management LLC grew 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 during the last quarter. Finally, Aperio Group LLC grew 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 during the last quarter. 50.13% of the stock is currently owned by hedge funds and other institutional investors.
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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