Zacks: Brokerages Set $40.50 Target Price for International Speedway Corp (ISCA)
Shares of International Speedway Corp (NASDAQ:ISCA) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation, one has assigned a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a 1 year consensus price objective of $40.50 for the company, according to Zacks. Zacks has also given International Speedway an industry rank of 166 out of 265 based on the ratings given to related companies.
A number of brokerages have recently weighed in on ISCA. Citigroup raised their price target on International Speedway from $31.00 to $40.00 and gave the company a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded International Speedway from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 30th. Finally, BidaskClub cut International Speedway from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th.
International Speedway (NASDAQ:ISCA) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. International Speedway had a return on equity of 5.09% and a net margin of 16.50%. The business had revenue of $226.26 million during the quarter, compared to analysts’ expectations of $222.36 million. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. analysts forecast that International Speedway will post 2.09 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in International Speedway by 18.6% during the 4th quarter. Wells Fargo & Company MN now owns 79,714 shares of the company’s stock worth $3,177,000 after purchasing an additional 12,518 shares in the last quarter. First Trust Advisors LP increased its position in International Speedway by 10.6% during the 4th quarter. First Trust Advisors LP now owns 136,956 shares of the company’s stock worth $5,458,000 after purchasing an additional 13,081 shares in the last quarter. New Mexico Educational Retirement Board purchased a new stake in International Speedway during the 4th quarter worth about $247,000. Carnick & Kubik Group LLC purchased a new stake in International Speedway during the 4th quarter worth about $1,706,000. Finally, KBC Group NV increased its position in International Speedway by 15.3% during the 4th quarter. KBC Group NV now owns 26,172 shares of the company’s stock worth $1,043,000 after purchasing an additional 3,470 shares in the last quarter. Hedge funds and other institutional investors own 50.48% of the company’s stock.
International Speedway Company Profile
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the United States. The Company’s motorsports themed event operations consist of racing events at its motorsports entertainment facilities. As of November 30, 2016, the Company owned and/or operated 13 of the nation’s motorsports entertainment facilities: Daytona International Speedway in Florida; Talladega Superspeedway in Alabama; Michigan International Speedway in Michigan; Auto Club Speedway of Southern California in California; Kansas Speedway in Kansas; Richmond International Raceway in Virginia; Darlington Raceway in South Carolina; Chicagoland Speedway in Illinois; Martinsville Speedway in Virginia; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Watkins Glen International in New York, and Route 66 Raceway in Illinois.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for International Speedway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Speedway and related companies with MarketBeat.com's FREE daily email newsletter.