Speedway Motorsports, Inc. (TRK) Given Average Rating of “Hold” by Analysts

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been given an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.

Brokers have set a 12-month consensus price objective of $18.75 for the company and are forecasting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 168 out of 265 based on the ratings given to related companies.

TRK has been the subject of several research reports. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised Speedway Motorsports from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Saturday, October 28th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRK. Schwab Charles Investment Management Inc. raised its stake in shares of Speedway Motorsports by 22.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 53,887 shares of the company’s stock worth $985,000 after purchasing an additional 9,747 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Speedway Motorsports by 6.0% in the second quarter. Rhumbline Advisers now owns 17,401 shares of the company’s stock valued at $318,000 after buying an additional 986 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Speedway Motorsports by 2.2% in the second quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock valued at $234,000 after buying an additional 279 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Speedway Motorsports by 17.7% in the second quarter. Teachers Advisors LLC now owns 35,531 shares of the company’s stock valued at $649,000 after buying an additional 5,336 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Speedway Motorsports by 20.6% in the second quarter. TIAA CREF Investment Management LLC now owns 52,203 shares of the company’s stock valued at $954,000 after buying an additional 8,930 shares in the last quarter. 21.18% of the stock is owned by institutional investors.

Speedway Motorsports (NYSE:TRK) traded up $0.10 during trading hours on Wednesday, hitting $19.59. 26,844 shares of the stock were exchanged, compared to its average volume of 26,237. The stock has a market cap of $806.67, a P/E ratio of 23.05, a PEG ratio of -4.86 and a beta of 1.04. The company has a quick ratio of 1.33, a current ratio of 1.42 and a debt-to-equity ratio of 0.28. Speedway Motorsports has a 12-month low of $16.80 and a 12-month high of $23.47.

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About Speedway Motorsports

Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.

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