International Speedway (ISCA) Upgraded at ValuEngine

ValuEngine upgraded shares of International Speedway (NASDAQ:ISCA) from a hold rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other equities analysts have also issued reports on the stock. BidaskClub raised shares of International Speedway from a sell rating to a hold rating in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of International Speedway from a sell rating to a hold rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $26.00.

Shares of ISCA stock opened at $45.39 on Thursday. International Speedway has a 1 year low of $35.12 and a 1 year high of $49.95. The firm has a market cap of $1.97 billion, a P/E ratio of 24.54, a P/E/G ratio of 7.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.02 and a current ratio of 3.02.

International Speedway (NASDAQ:ISCA) last announced its earnings results on Thursday, April 4th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). International Speedway had a return on equity of 4.88% and a net margin of 11.45%. The company had revenue of $150.55 million for the quarter, compared to the consensus estimate of $150.95 million. During the same period last year, the firm posted $0.60 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Analysts predict that International Speedway will post 1.99 EPS for the current year.

The business also recently announced an annual dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a yield of 1.13%. This is a positive change from International Speedway’s previous annual dividend of $0.47. International Speedway’s payout ratio is 25.41%.

A number of institutional investors and hedge funds have recently bought and sold shares of ISCA. Norges Bank acquired a new stake in International Speedway during the fourth quarter worth $24,474,000. Elliott Management Corp acquired a new stake in International Speedway during the fourth quarter worth $11,728,000. WINTON GROUP Ltd boosted its stake in International Speedway by 3,131.6% during the fourth quarter. WINTON GROUP Ltd now owns 151,141 shares of the company’s stock worth $6,629,000 after buying an additional 146,464 shares in the last quarter. Gabelli Funds LLC boosted its stake in International Speedway by 159.7% during the fourth quarter. Gabelli Funds LLC now owns 168,836 shares of the company’s stock worth $7,405,000 after buying an additional 103,836 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in International Speedway by 6.8% during the first quarter. Renaissance Technologies LLC now owns 1,430,113 shares of the company’s stock worth $62,396,000 after buying an additional 91,193 shares in the last quarter. Hedge funds and other institutional investors own 48.78% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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