Brokerages Set $16.00 Target Price for Speedway Motorsports, Inc. (NYSE:TRK)

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have earned a consensus broker rating score of 5.00 (Strong Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation. Speedway Motorsports’ rating score has declined by 66.7% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus target price of $16.00 for the company and are anticipating that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 175 out of 256 based on the ratings given to related companies.

Several equities analysts recently commented on TRK shares. Wells Fargo & Co lowered shares of Speedway Motorsports from a “market perform” rating to an “underperform” rating in a research report on Monday, July 15th. Zacks Investment Research lowered shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th.

A number of hedge funds have recently modified their holdings of TRK. BNP Paribas Arbitrage SA grew its stake in Speedway Motorsports by 285.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,638 shares of the company’s stock worth $38,000 after buying an additional 1,954 shares during the period. Meeder Asset Management Inc. grew its stake in Speedway Motorsports by 326.5% during the first quarter. Meeder Asset Management Inc. now owns 7,792 shares of the company’s stock worth $112,000 after buying an additional 5,965 shares during the period. Carroll Financial Associates Inc. grew its stake in Speedway Motorsports by 30.8% during the first quarter. Carroll Financial Associates Inc. now owns 8,546 shares of the company’s stock worth $123,000 after buying an additional 2,013 shares during the period. Russell Investments Group Ltd. grew its stake in Speedway Motorsports by 29.5% during the second quarter. Russell Investments Group Ltd. now owns 6,994 shares of the company’s stock worth $130,000 after buying an additional 1,594 shares during the period. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Speedway Motorsports during the second quarter worth approximately $315,000. 21.22% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:TRK traded up $0.02 during trading on Monday, reaching $19.84. The stock had a trading volume of 86,200 shares, compared to its average volume of 68,564. Speedway Motorsports has a fifty-two week low of $13.47 and a fifty-two week high of $19.90. The company has a current ratio of 1.77, a quick ratio of 1.48 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $19.08. The firm has a market cap of $809.72 million, a PE ratio of 19.84 and a beta of 0.94.

Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). Speedway Motorsports had a return on equity of 4.22% and a net margin of 8.07%. The company had revenue of $141.87 million for the quarter, compared to analyst estimates of $143.46 million. Equities analysts anticipate that Speedway Motorsports will post 0.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, August 14th. Speedway Motorsports’s dividend payout ratio (DPR) is 60.00%.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

Read More: What is a Real Estate Investment Trust (REIT)?

Get a free copy of the Zacks research report on Speedway Motorsports (TRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Speedway Motorsports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Speedway Motorsports and related companies with MarketBeat.com's FREE daily email newsletter.