Zacks: Speedway Motorsports, Inc. (TRK) Receives Consensus Recommendation of “Hold” from Brokerages

Speedway Motorsports, Inc. (NYSE:TRK) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Analysts have set a one year consensus target price of $18.00 for the company, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 106 out of 256 based on the ratings given to related companies.

Separately, ValuEngine raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Speedway Motorsports by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,239,340 shares of the company’s stock valued at $57,821,000 after acquiring an additional 17,240 shares during the last quarter. Vanguard Group Inc. lifted its position in Speedway Motorsports by 6.2% in the third quarter. Vanguard Group Inc. now owns 1,138,897 shares of the company’s stock valued at $20,329,000 after buying an additional 65,991 shares during the last quarter. Vanguard Group Inc lifted its position in Speedway Motorsports by 6.2% in the third quarter. Vanguard Group Inc now owns 1,138,897 shares of the company’s stock valued at $20,329,000 after buying an additional 65,991 shares during the last quarter. BlackRock Inc. lifted its position in Speedway Motorsports by 0.5% in the third quarter. BlackRock Inc. now owns 722,503 shares of the company’s stock valued at $12,897,000 after buying an additional 3,435 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Speedway Motorsports by 30.8% in the second quarter. Renaissance Technologies LLC now owns 388,700 shares of the company’s stock valued at $6,748,000 after buying an additional 91,600 shares during the last quarter. 21.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Speedway Motorsports stock traded down $0.22 during trading hours on Wednesday, reaching $16.39. 9 shares of the company’s stock were exchanged, compared to its average volume of 56,240. Speedway Motorsports has a 1 year low of $14.66 and a 1 year high of $21.15. The firm has a market capitalization of $666.39 million, a price-to-earnings ratio of 18.01 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 0.21.

Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.26. The firm had revenue of $160.09 million for the quarter, compared to analysts’ expectations of $143.66 million. Speedway Motorsports had a net margin of 35.01% and a return on equity of 5.51%. On average, research analysts anticipate that Speedway Motorsports will post 1.1 EPS for the current fiscal year.

About Speedway Motorsports

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

See Also: Net Income

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