International Speedway (NASDAQ:ISCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “International Speedway Corporation is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation’s major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the DAYTONA 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond Raceway in Virginia; Auto Club Speedway of Southern CaliforniaSM near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix Raceway in Arizona; Chicagoland Speedway and Route 66 RacewaySM near Chicago, Illinois; Darlington Raceway in South Carolina; and Watkins Glen International in New York. The Company also owns and operates Motor Racing NetworkSM, the nation’s largest independent sports radio network and Americrown Service CorporationSM, a subsidiary that provides catering services, and food and beverage concessions. “

A number of other brokerages have also recently weighed in on ISCA. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Wells Fargo & Co restated a “sell” rating on shares of Bausch Health Companies in a research note on Monday. Finally, ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.50.

Shares of NASDAQ ISCA traded down $0.08 during mid-day trading on Wednesday, hitting $45.17. The company had a trading volume of 7,463 shares, compared to its average volume of 140,889. The firm has a market cap of $1.97 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 7.95 and a beta of 0.72. International Speedway has a 12 month low of $35.12 and a 12 month high of $45.62. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $44.95.

International Speedway (NASDAQ:ISCA) last announced its earnings results on Wednesday, July 3rd. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $168.10 million for the quarter, compared to the consensus estimate of $178.99 million. International Speedway had a net margin of 11.27% and a return on equity of 4.82%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. Equities analysts anticipate that International Speedway will post 1.89 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. 6 Meridian increased its holdings in shares of International Speedway by 2.4% during the second quarter. 6 Meridian now owns 11,103 shares of the company’s stock valued at $498,000 after acquiring an additional 262 shares in the last quarter. Nisa Investment Advisors LLC grew its position in International Speedway by 6.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,000 shares of the company’s stock valued at $718,000 after acquiring an additional 1,000 shares in the last quarter. WINTON GROUP Ltd lifted its stake in International Speedway by 46.1% during the second quarter. WINTON GROUP Ltd now owns 15,439 shares of the company’s stock worth $693,000 after purchasing an additional 4,874 shares during the last quarter. Denali Advisors LLC lifted its stake in International Speedway by 197.2% in the second quarter. Denali Advisors LLC now owns 17,800 shares of the company’s stock valued at $799,000 after buying an additional 11,810 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in International Speedway by 39.2% in the first quarter. Citigroup Inc. now owns 133,593 shares of the company’s stock valued at $5,829,000 after buying an additional 37,618 shares during the last quarter. Institutional investors own 49.43% of the company’s stock.

International Speedway Company Profile

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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