Brokerages Expect Speedway Motorsports, Inc. (TRK) to Announce ($0.01) Earnings Per Share
Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been assigned an average broker rating score of 3.00 (Hold) from the three analysts that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.
Analysts have set a 1 year consensus price objective of $18.75 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 168 out of 265 based on the ratings given to its competitors.
TRK has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Saturday, October 28th. TheStreet cut shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th.
Hedge funds have recently made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in shares of Speedway Motorsports by 1,770.9% during the 3rd quarter. Carroll Financial Associates Inc. now owns 4,958 shares of the company’s stock valued at $107,000 after purchasing an additional 4,693 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Speedway Motorsports by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,721 shares of the company’s stock valued at $214,000 after purchasing an additional 821 shares during the period. Wells Fargo & Company MN raised its position in shares of Speedway Motorsports by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock valued at $234,000 after purchasing an additional 279 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Speedway Motorsports during the 3rd quarter valued at $279,000. Finally, Algert Global LLC bought a new stake in shares of Speedway Motorsports during the 4th quarter valued at $268,000. Hedge funds and other institutional investors own 21.18% of the company’s stock.
About Speedway Motorsports
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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