International Speedway (NASDAQ:ISCA) Downgraded by BidaskClub

BidaskClub lowered shares of International Speedway (NASDAQ:ISCA) from a buy rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

ISCA has been the subject of several other research reports. ValuEngine downgraded shares of International Speedway from a buy rating to a hold rating in a research note on Thursday, August 1st. 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, Wells Fargo & Co downgraded shares of International Speedway from a market perform rating to an underperform rating and set a $41.00 price objective for the company. in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. International Speedway currently has a consensus rating of Hold and a consensus target price of $33.50.

NASDAQ ISCA opened at $45.01 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 7.94 and a beta of 0.69. The firm’s 50 day simple moving average is $45.13 and its 200 day simple moving average is $44.25. International Speedway has a 1 year low of $35.12 and a 1 year high of $45.62.

International Speedway (NASDAQ:ISCA) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). The firm had revenue of $168.10 million for 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%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS. On average, equities research analysts forecast 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 stock in a transaction that occurred 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 owns 9,778 shares of the company’s stock, valued at approximately $441,183.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 44.70% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in International Speedway by 2,997.4% in the 1st quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 1,139 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of International Speedway during the second quarter valued at $58,000. Tower Research Capital LLC TRC raised its stake in shares of International Speedway by 1,377.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,359 shares of the company’s stock valued at $61,000 after acquiring an additional 1,267 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of International Speedway during the second quarter valued at $64,000. Finally, Dupont Capital Management Corp raised its stake in shares of International Speedway by 145.1% during the first quarter. Dupont Capital Management Corp now owns 1,689 shares of the company’s stock valued at $74,000 after acquiring an additional 1,000 shares during the last quarter. 50.13% of the stock is owned by institutional investors and hedge funds.

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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