International Speedway (NASDAQ:ISCA) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of International Speedway (NASDAQ:ISCA) from a sell rating to a hold rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of International Speedway from a buy rating to a hold rating in a research report on Thursday, August 1st. Wells Fargo & Co downgraded shares of International Speedway from a market perform rating to an underperform rating and set a $41.00 price objective on the stock. in a research report on Monday, July 15th. Finally, Zacks Investment Research downgraded shares of International Speedway from a hold rating to a sell rating in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. International Speedway presently has a consensus rating of Hold and an average price target of $41.00.

Shares of NASDAQ ISCA opened at $44.94 on Tuesday. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.15. International Speedway has a 52 week low of $35.12 and a 52 week high of $45.62. The firm’s fifty day moving average is $45.07 and its 200 day moving average is $44.45. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 7.96 and a beta of 0.65.

International Speedway (NASDAQ:ISCA) last issued its earnings results on Wednesday, July 3rd. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The firm had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $178.99 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that International Speedway will post 1.89 earnings per share for the current year.

In other International Speedway news, VP Derek Muldowney sold 2,594 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $45.12, for a total transaction of $117,041.28. Following 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 legal filing with the SEC, which can be accessed through the SEC website. 44.70% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Krane Funds Advisors LLC purchased a new position in International Speedway during the 2nd quarter valued at $58,000. Tower Research Capital LLC TRC boosted its holdings in shares of International Speedway by 1,377.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,359 shares of the company’s stock valued at $61,000 after buying an additional 1,267 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of International Speedway during the 2nd quarter valued at $64,000. Chicago Capital Management LLC bought a new stake in shares of International Speedway during the 2nd quarter valued at $119,000. Finally, Bank of Montreal Can boosted its holdings in shares of International Speedway by 102.5% during the 2nd quarter. Bank of Montreal Can now owns 3,839 shares of the company’s stock valued at $172,000 after buying an additional 1,943 shares in the last quarter. 47.75% of the stock is currently 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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