Shares of Speedway Motorsports (NYSE:TRK) have earned a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus price target of $18.00 for the company and are expecting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 75 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, January 31st.
TRK opened at $17.99 on Wednesday. The company has a market capitalization of $737.83, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.98 and a beta of 1.05. Speedway Motorsports has a 12 month low of $16.80 and a 12 month high of $23.47. The company has a quick ratio of 1.31, a current ratio of 1.39 and a debt-to-equity ratio of 0.24.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, March 7th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The business had revenue of $76.41 million during the quarter, compared to the consensus estimate of $82.63 million. Speedway Motorsports had a return on equity of 4.48% and a net margin of 31.30%. equities analysts expect that Speedway Motorsports will post 1.1 earnings per share for the current year.
Speedway Motorsports announced that its board has initiated a stock buyback program on Wednesday, March 7th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System lifted its stake in Speedway Motorsports by 9.7% in the 3rd quarter. California Public Employees Retirement System now owns 37,396 shares of the company’s stock worth $797,000 after purchasing an additional 3,296 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Speedway Motorsports by 8.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 52,427 shares of the company’s stock worth $990,000 after purchasing an additional 4,178 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Speedway Motorsports by 20.4% in the 4th quarter. Two Sigma Advisers LP now owns 28,924 shares of the company’s stock worth $546,000 after purchasing an additional 4,900 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Speedway Motorsports by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,216 shares of the company’s stock worth $325,000 after purchasing an additional 5,569 shares in the last quarter. Finally, First Quadrant L P CA lifted its stake in Speedway Motorsports by 19.4% in the 4th quarter. First Quadrant L P CA now owns 38,704 shares of the company’s stock worth $730,000 after purchasing an additional 6,294 shares in the last quarter. Institutional investors and hedge funds own 23.36% of the company’s stock.
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About Speedway Motorsports
Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.
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