Speedway Motorsports, Inc. (TRK) Receives Average Recommendation of “Hold” from Brokerages

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have earned an average broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.

Brokerages have set a 1 year consensus price objective of $18.75 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 165 out of 265 based on the ratings given to related companies.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. TheStreet downgraded shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th.

Speedway Motorsports (TRK) traded up $0.33 on Friday, hitting $20.24. 24,117 shares of the stock traded hands, compared to its average volume of 32,748. The stock has a market capitalization of $829.18, a P/E ratio of 23.81, a price-to-earnings-growth ratio of -5.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.42 and a quick ratio of 1.33. Speedway Motorsports has a 52-week low of $16.80 and a 52-week high of $23.47.

Speedway Motorsports (NYSE:TRK) last posted its earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). The business had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $141.79 million. Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. research analysts expect that Speedway Motorsports will post 0.95 earnings per share for the current year.

In other news, Director Mark M. Gambill sold 12,000 shares of Speedway Motorsports stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $20.00, for a total value of $240,000.00. Following the completion of the transaction, the director now owns 40,428 shares in the company, valued at $808,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 72.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Speedway Motorsports by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 216,149 shares of the company’s stock worth $3,949,000 after purchasing an additional 3,010 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Speedway Motorsports by 531.3% during the third quarter. Allianz Asset Management GmbH now owns 114,361 shares of the company’s stock valued at $2,435,000 after acquiring an additional 96,245 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Speedway Motorsports during the third quarter valued at approximately $279,000. Vanguard Group Inc. grew its stake in Speedway Motorsports by 6.6% during the second quarter. Vanguard Group Inc. now owns 1,038,139 shares of the company’s stock valued at $18,966,000 after acquiring an additional 64,192 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in Speedway Motorsports during the third quarter valued at approximately $560,000. Hedge funds and other institutional investors own 21.18% of the company’s stock.

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Speedway Motorsports Company Profile

Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.

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