International Speedway Corporation (ISCA) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of International Speedway Corporation (NASDAQ:ISCA) from a hold rating to a buy rating in a report released on Tuesday. The firm currently has $45.00 price objective on the stock.

According to Zacks, “International Speedway Corporation’s operations consist principally of racing events at its motorsports facilities, which generate revenue primarily through sales of admissions to racing events, television broadcast rights fees, sponsorship fees, hospitality rentals, royalties from licenses of trademarks and provides catering, souvenir and food concession services at certain facilities. “

A number of other research firms also recently commented on ISCA. Citigroup Inc. reaffirmed a sell rating and issued a $31.00 target price (up previously from $30.00) on shares of International Speedway Corporation in a research report on Monday. BidaskClub raised shares of International Speedway Corporation from a sell rating to a hold rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. International Speedway Corporation presently has an average rating of Hold and a consensus target price of $38.50.

International Speedway Corporation (NASDAQ:ISCA) opened at 39.55 on Tuesday. The stock has a market cap of $1.77 billion, a P/E ratio of 25.90 and a beta of 1.15. International Speedway Corporation has a 1-year low of $30.05 and a 1-year high of $40.31. The company has a 50-day moving average price of $35.75 and a 200 day moving average price of $35.94.

International Speedway Corporation (NASDAQ:ISCA) last posted its earnings results on Thursday, October 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. International Speedway Corporation had a net margin of 10.07% and a return on equity of 4.86%. The business had revenue of $131.90 million during the quarter, compared to the consensus estimate of $128.82 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that International Speedway Corporation will post $1.57 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in shares of International Speedway Corporation during the 2nd quarter valued at $243,000. Arrowstreet Capital Limited Partnership grew its position in shares of International Speedway Corporation by 93.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 124,864 shares of the company’s stock valued at $4,689,000 after acquiring an additional 60,163 shares during the period. State Street Corp grew its position in shares of International Speedway Corporation by 3.2% during the 2nd quarter. State Street Corp now owns 847,986 shares of the company’s stock valued at $31,842,000 after acquiring an additional 26,184 shares during the period. Gotham Asset Management LLC grew its position in shares of International Speedway Corporation by 174.8% during the 2nd quarter. Gotham Asset Management LLC now owns 36,397 shares of the company’s stock valued at $1,367,000 after acquiring an additional 23,150 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of International Speedway Corporation by 35.8% during the 2nd quarter. Macquarie Group Ltd. now owns 1,371,519 shares of the company’s stock valued at $51,501,000 after acquiring an additional 361,759 shares during the period. 50.71% of the stock is owned by hedge funds and other institutional investors.

About International Speedway Corporation

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