Wells Fargo & Co downgraded shares of International Speedway (NASDAQ:ISCA) from a market perform rating to an underperform rating in a research note released on Monday morning, 24/7 WallStreet reports. They currently have $41.00 target price on the stock.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Jack Henry & Associates from a sell rating to a hold rating in a research note on Wednesday, March 27th. BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Finally, ValuEngine raised shares of Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. International Speedway has a consensus rating of Sell and a consensus target price of $33.50.
Shares of ISCA opened at $45.05 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 2.77. International Speedway has a twelve month low of $35.12 and a twelve month high of $45.62. The firm has a 50 day moving average of $44.95. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 7.94 and a beta of 0.72.
International Speedway (NASDAQ:ISCA) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). International Speedway had a net margin of 11.27% and a return on equity of 4.82%. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $178.99 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that International Speedway will post 1.89 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. 6 Meridian lifted its position in shares of International Speedway by 2.4% in the second quarter. 6 Meridian now owns 11,103 shares of the company’s stock worth $498,000 after purchasing an additional 262 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of International Speedway by 6.7% in the second quarter. Nisa Investment Advisors LLC now owns 16,000 shares of the company’s stock worth $718,000 after purchasing an additional 1,000 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of International Speedway by 46.1% in the second quarter. WINTON GROUP Ltd now owns 15,439 shares of the company’s stock worth $693,000 after purchasing an additional 4,874 shares in the last quarter. Denali Advisors LLC lifted its position in shares of International Speedway by 197.2% in the second quarter. Denali Advisors LLC now owns 17,800 shares of the company’s stock worth $799,000 after purchasing an additional 11,810 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of International Speedway by 39.2% in the first quarter. Citigroup Inc. now owns 133,593 shares of the company’s stock worth $5,829,000 after purchasing an additional 37,618 shares in the last quarter. 49.43% 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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