BidaskClub Lowers International Speedway (ISCA) to Sell

BidaskClub cut shares of International Speedway (NASDAQ:ISCA) from a hold rating to a sell rating in a research report released on Tuesday morning.

A number of other research firms also recently issued reports on ISCA. Citigroup reissued a sell rating and issued a $31.00 price target (up from $30.00) on shares of International Speedway in a research note on Monday, October 9th. Zacks Investment Research raised shares of International Speedway from a hold rating to a buy rating and set a $45.00 price target for the company in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. International Speedway has an average rating of Hold and an average target price of $38.50.

Shares of International Speedway (ISCA) traded up $0.15 during trading hours on Tuesday, hitting $40.65. 113,000 shares of the stock traded hands, compared to its average volume of 135,256. International Speedway has a 52-week low of $32.25 and a 52-week high of $41.60. The company has a market capitalization of $1,789.61, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 5.99 and a beta of 1.13. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.19.

International Speedway (NASDAQ:ISCA) last released its quarterly earnings results on Thursday, October 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. International Speedway had a net margin of 10.07% and a return on equity of 5.05%. The company had revenue of $131.90 million during the quarter, compared to the consensus estimate of $128.82 million. During the same period in the prior year, the firm earned $0.03 earnings per share. International Speedway’s revenue was up 2.2% on a year-over-year basis. equities research analysts expect that International Speedway will post 1.59 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in ISCA. AQR Capital Management LLC grew its holdings in International Speedway by 23.5% in the first quarter. AQR Capital Management LLC now owns 29,115 shares of the company’s stock worth $1,076,000 after purchasing an additional 5,546 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of International Speedway by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 6,600 shares of the company’s stock valued at $248,000 after buying an additional 200 shares during the last quarter. State Treasurer State of Michigan grew its holdings in shares of International Speedway by 2.0% during the second quarter. State Treasurer State of Michigan now owns 10,450 shares of the company’s stock valued at $392,000 after buying an additional 200 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of International Speedway by 333.1% during the second quarter. Russell Investments Group Ltd. now owns 10,125 shares of the company’s stock valued at $381,000 after buying an additional 7,787 shares during the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of International Speedway by 0.5% during the second quarter. Texas Permanent School Fund now owns 18,432 shares of the company’s stock valued at $692,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 50.37% of the company’s stock.

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