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

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

A number of other equities research analysts have also issued reports on ISCA. ValuEngine lowered International Speedway from a buy rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded International Speedway from a sell rating to a hold rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Co lowered International Speedway from a market perform rating to an underperform rating and set a $41.00 price target for the company. in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $33.50.

Shares of ISCA stock traded up $0.03 during trading hours on Tuesday, reaching $45.12. The company had a trading volume of 35,921 shares, compared to its average volume of 141,560. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.77 and a quick ratio of 2.77. The stock has a fifty day simple moving average of $45.09. The firm has a market cap of $1.96 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 7.95 and a beta of 0.69. International Speedway has a 12-month low of $35.12 and a 12-month 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 analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $178.99 million. International Speedway had a net margin of 11.27% and a return on equity of 4.82%. International Speedway’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. As a group, analysts anticipate that International Speedway will post 1.89 earnings per share for the current fiscal year.

In other news, VP Derek Muldowney sold 2,594 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $45.12, for a total value of $117,041.28. Following the completion of the sale, the vice president now directly owns 9,778 shares in the company, valued at $441,183.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 44.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in International Speedway by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 281,426 shares of the company’s stock valued at $12,343,000 after acquiring an additional 24,106 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in International Speedway in the first quarter valued at approximately $254,000. Principal Financial Group Inc. lifted its holdings in International Speedway by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 117,063 shares of the company’s stock valued at $5,134,000 after acquiring an additional 5,335 shares during the last quarter. Bank of America Corp DE lifted its holdings in International Speedway by 171.5% in the fourth quarter. Bank of America Corp DE now owns 59,436 shares of the company’s stock valued at $2,606,000 after acquiring an additional 37,548 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in International Speedway by 2.5% in the fourth quarter. Legal & General Group Plc now owns 25,637 shares of the company’s stock valued at $1,125,000 after acquiring an additional 617 shares during the last quarter. Hedge funds and other institutional investors own 50.51% of the company’s stock.

International Speedway Company Profile

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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