Speedway Motorsports (TRK) Stock Rating Upgraded by TheStreet

TheStreet upgraded shares of Speedway Motorsports (NYSE:TRK) from a c+ rating to a b rating in a report published on Monday morning.

Separately, ValuEngine upgraded Speedway Motorsports from a sell rating to a hold rating in a report on Monday.

Shares of TRK stock opened at $17.11 on Monday. Speedway Motorsports has a 12 month low of $14.66 and a 12 month high of $20.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.61 and a current ratio of 1.73. The company has a market cap of $717.02 million, a price-to-earnings ratio of 18.80, a P/E/G ratio of -8.44 and a beta of 0.94.

Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.33 by $0.26. Speedway Motorsports had a return on equity of 5.51% and a net margin of 35.01%. The company had revenue of $160.09 million for the quarter, compared to the consensus estimate of $143.66 million. On average, sell-side analysts anticipate that Speedway Motorsports will post 1.03 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in TRK. Schwab Charles Investment Management Inc. grew its holdings in Speedway Motorsports by 16.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 62,844 shares of the company’s stock valued at $1,091,000 after purchasing an additional 8,896 shares during the last quarter. BlackRock Inc. grew its holdings in Speedway Motorsports by 2.0% during the second quarter. BlackRock Inc. now owns 719,068 shares of the company’s stock valued at $12,483,000 after purchasing an additional 13,784 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Speedway Motorsports by 30.8% during the second quarter. Renaissance Technologies LLC now owns 388,700 shares of the company’s stock valued at $6,748,000 after purchasing an additional 91,600 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Speedway Motorsports by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 282,320 shares of the company’s stock valued at $4,901,000 after purchasing an additional 5,301 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Speedway Motorsports by 8.2% during the second quarter. Northern Trust Corp now owns 172,126 shares of the company’s stock valued at $2,989,000 after purchasing an additional 13,034 shares during the last quarter. Institutional investors own 21.76% of the company’s stock.

Speedway Motorsports Company Profile

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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