BidaskClub Downgrades International Speedway (ISCA) to Strong Sell

International Speedway (NASDAQ:ISCA) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of International Speedway from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Citigroup reiterated a “sell” rating and set a $31.00 target price (up previously from $30.00) on shares of International Speedway in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.50.

International Speedway (NASDAQ:ISCA) traded down $0.35 during midday trading on Friday, reaching $39.10. 105,317 shares of the company were exchanged, compared to its average volume of 115,831. International Speedway has a 1-year low of $32.25 and a 1-year high of $41.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $1,710.00, a P/E ratio of 26.24, a PEG ratio of 5.84 and a beta of 1.14.

International Speedway (NASDAQ:ISCA) last posted its quarterly earnings data on Thursday, October 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. International Speedway had a net margin of 10.07% and a return on equity of 5.05%. The business had revenue of $131.90 million during the quarter, compared to the consensus estimate of $128.82 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. research analysts predict that International Speedway will post 1.59 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of ISCA. Northwestern Mutual Investment Management Company LLC boosted its position in International Speedway by 5.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 4,580 shares of the company’s stock worth $153,000 after purchasing an additional 217 shares during the period. Victory Capital Management Inc. boosted its position in International Speedway by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,682 shares of the company’s stock worth $213,000 after purchasing an additional 850 shares during the period. Susquehanna International Group LLP bought a new position in International Speedway during the second quarter worth about $243,000. Russell Investments Group Ltd. boosted its position in International Speedway by 333.1% during the second quarter. Russell Investments Group Ltd. now owns 10,125 shares of the company’s stock worth $381,000 after purchasing an additional 7,787 shares during the period. Finally, Arizona State Retirement System boosted its position in International Speedway by 1.0% during the second quarter. Arizona State Retirement System now owns 10,600 shares of the company’s stock worth $398,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 50.37% of the company’s stock.

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