Research Analysts’ Weekly Ratings Changes for International... - Jonathan Cartu Restaurant, Baking & Catering Services
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Research Analysts’ Weekly Ratings Changes for International…

Research Analysts’ Weekly Ratings Changes for International…


International Speedway (NASDAQ: ISCA) recently received a number of ratings updates from brokerages and research firms:

  • 7/23/2019 – International Speedway was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation’s major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the DAYTONA 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond Raceway in Virginia; Auto Club Speedway of Southern CaliforniaSM near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix Raceway in Arizona; Chicagoland Speedway and Route 66 RacewaySM near Chicago, Illinois; Darlington Raceway in South Carolina; and Watkins Glen International in New York. The Company also owns and operates Motor Racing NetworkSM, the nation’s largest independent sports radio network and Americrown Service CorporationSM, a subsidiary that provides catering services, and food and beverage concessions. “
  • 7/19/2019 – International Speedway was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/19/2019 – International Speedway was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/17/2019 – International Speedway was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation’s major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the DAYTONA 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond Raceway in Virginia; Auto Club Speedway of Southern CaliforniaSM near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix Raceway in Arizona; Chicagoland Speedway and Route 66 RacewaySM near Chicago, Illinois; Darlington Raceway in South Carolina; and Watkins Glen International in New York. The Company also owns and operates Motor Racing NetworkSM, the nation’s largest independent sports radio network and Americrown Service CorporationSM, a subsidiary that provides catering services, and food and beverage concessions. “
  • 7/15/2019 – International Speedway was downgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “underperform” rating. They now have a $41.00 price target on the stock.
  • 6/24/2019 – International Speedway was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/21/2019 – International Speedway was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 6/11/2019 – International Speedway was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 5/30/2019 – International Speedway was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of ISCA stock traded up $0.21 during trading hours on Tuesday, hitting $45.31. 4,321 shares of the company’s stock were exchanged, compared to its average volume of 139,563. The stock has a market capitalization of $1.97 billion, a P/E ratio of 24.49, a PEG ratio of 7.99 and a beta of 0.72. International Speedway Corp has a 12-month low of $35.12 and a 12-month high of $45.62. The stock has a 50 day simple moving average of $44.99. 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 (NASDAQ:ISCA) last posted its quarterly 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). The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $178.99 million. International Speedway had a return on equity of 4.82% and a net margin of 11.27%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. On average, sell-side analysts anticipate that International Speedway Corp will post 1.89 EPS for the current fiscal year.

In other International Speedway news, VP Derek Muldowney sold 2,594 shares of International Speedway stock in a transaction that occurred 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 $441,183.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 44.70% of the company’s stock.

Several institutional investors have recently modified their holdings of ISCA. Norges Bank bought a new stake in International Speedway in the fourth quarter valued at $24,474,000. Elliott Management Corp bought a new stake in International Speedway in the fourth quarter valued at $11,728,000. BlackRock Inc. boosted its holdings in International Speedway by 3.3% in the fourth quarter. BlackRock Inc. now owns 2,826,035 shares of the company’s stock valued at $123,950,000 after acquiring an additional 90,000 shares in the last quarter. Citigroup Inc. boosted its holdings in International Speedway by 39.2% in the first quarter. Citigroup Inc. now owns 133,593 shares of the company’s stock valued at $5,829,000 after acquiring an additional 37,618 shares in the last quarter. Finally, Bank of America Corp DE boosted 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 in the last quarter. Hedge funds and other institutional investors own 49.38% of the company’s stock.

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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