Zacks Investment Research upgraded shares of International Speedway Corp Class A (NASDAQ:ISCA) from a sell rating to a hold rating in a research note published on Tuesday, May 29th.

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. “

ISCA has been the subject of several other reports. BidaskClub cut International Speedway Corp Class A from a sell rating to a strong sell rating in a report on Wednesday, March 7th. Citigroup upped their target price on International Speedway Corp Class A from $31.00 to $40.00 and gave the stock a sell rating in a report on Tuesday, February 6th.

NASDAQ:ISCA traded up $0.40 during trading hours on Tuesday, reaching $43.40. The stock had a trading volume of 100,900 shares, compared to its average volume of 142,168. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.62 and a quick ratio of 2.62. International Speedway Corp Class A has a 52 week low of $32.25 and a 52 week high of $47.45.

International Speedway Corp Class A (NASDAQ:ISCA) last released its earnings results on Tuesday, April 3rd. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $148.90 million for the quarter, compared to the consensus estimate of $151.88 million. International Speedway Corp Class A had a return on equity of 5.25% and a net margin of 38.51%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. analysts anticipate that International Speedway Corp Class A will post 2 EPS for the current year.

The business also recently disclosed an annual dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, May 31st will be paid a dividend of $0.47 per share. This is a boost from International Speedway Corp Class A’s previous annual dividend of $0.43. This represents a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, May 30th. International Speedway Corp Class A’s dividend payout ratio is 29.19%.

In related news, COO John R. Saunders sold 2,500 shares of the company’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $40.54, for a total transaction of $101,350.00. Following the completion of the sale, the chief operating officer now directly owns 46,130 shares in the company, valued at approximately $1,870,110.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 42.41% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in International Speedway Corp Class A by 3.4% in the first quarter. Principal Financial Group Inc. now owns 113,240 shares of the company’s stock valued at $4,994,000 after buying an additional 3,755 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in International Speedway Corp Class A in the first quarter valued at about $5,937,000. Legal & General Group Plc raised its stake in International Speedway Corp Class A by 25.7% in the first quarter. Legal & General Group Plc now owns 25,353 shares of the company’s stock valued at $1,118,000 after buying an additional 5,178 shares during the last quarter. Millennium Management LLC increased its holdings in shares of International Speedway Corp Class A by 136.0% in the first quarter. Millennium Management LLC now owns 243,685 shares of the company’s stock valued at $10,747,000 after purchasing an additional 140,449 shares during the period. Finally, Barclays PLC increased its holdings in shares of International Speedway Corp Class A by 65.4% in the first quarter. Barclays PLC now owns 22,878 shares of the company’s stock valued at $1,008,000 after purchasing an additional 9,044 shares during the period. Institutional investors own 50.90% of the company’s stock.

About International Speedway Corp Class A

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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