Zacks: International Speedway Corp (ISCA) Given Consensus Recommendation of “Hold” by Brokerages
International Speedway Corp (NASDAQ:ISCA) has been assigned a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company.
Brokers have set a 12 month consensus target price of $40.50 for the company, according to Zacks. Zacks has also assigned International Speedway an industry rank of 129 out of 265 based on the ratings given to its competitors.
ISCA has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of International Speedway from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. BidaskClub lowered shares of International Speedway from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Finally, Citigroup increased their price objective on shares of International Speedway from $31.00 to $40.00 and gave the stock a “sell” rating in a report on Tuesday, February 6th.
International Speedway (NASDAQ:ISCA) last released its earnings results on Thursday, January 25th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $226.26 million for the quarter, compared to analyst estimates of $222.36 million. International Speedway had a net margin of 16.50% and a return on equity of 5.09%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. equities research analysts predict that International Speedway will post 2.06 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. AXA lifted its holdings in shares of International Speedway by 571.9% during the 3rd quarter. AXA now owns 145,800 shares of the company’s stock worth $5,249,000 after acquiring an additional 124,100 shares during the period. IndexIQ Advisors LLC lifted its holdings in shares of International Speedway by 83.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 23,459 shares of the company’s stock worth $845,000 after acquiring an additional 10,658 shares during the period. Paradice Investment Management LLC lifted its holdings in shares of International Speedway by 2.3% during the 3rd quarter. Paradice Investment Management LLC now owns 1,940,306 shares of the company’s stock worth $69,851,000 after acquiring an additional 43,171 shares during the period. Lindsell Train Ltd lifted its holdings in shares of International Speedway by 14.2% during the 3rd quarter. Lindsell Train Ltd now owns 723,400 shares of the company’s stock worth $26,042,000 after acquiring an additional 90,000 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of International Speedway by 7.2% during the 3rd quarter. Macquarie Group Ltd. now owns 1,470,023 shares of the company’s stock worth $52,920,000 after acquiring an additional 98,504 shares during the period. Institutional investors and hedge funds own 50.62% of the company’s stock.
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About International Speedway
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the United States. The Company’s motorsports themed event operations consist of racing events at its motorsports entertainment facilities. As of November 30, 2016, the Company owned and/or operated 13 of the nation’s motorsports entertainment facilities: Daytona International Speedway in Florida; Talladega Superspeedway in Alabama; Michigan International Speedway in Michigan; Auto Club Speedway of Southern California in California; Kansas Speedway in Kansas; Richmond International Raceway in Virginia; Darlington Raceway in South Carolina; Chicagoland Speedway in Illinois; Martinsville Speedway in Virginia; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Watkins Glen International in New York, and Route 66 Raceway in Illinois.
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