International Speedway Corp. (NASDAQ: ISCA) shares rose in value Thursday Dec 15 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Zacks Investment Research upgraded shares of International Speedway Corp. (NASDAQ: ISCA) from Sell to Hold today. The company currently has a rating of Hold on the shares. The one-year price target of $35.00 is a decrease compared to the opening price of $38.35, resulting a fair amount of other analysts to issue statements on the stock in recent days. Looking back over the last 52 weeks, International Speedway Corp. stock has a high of $39.95. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
International Speedway Corp. (NASDAQ: ISCA) shares last traded at $38.55, a jump of $0.35 or 0.92% from the previous closing price. Opening at $38.35, they varied from $37.85 and $38.70 throughout the day.
International Speedway Corp. (NASDAQ: ISCA) currently has a market cap of 1.76B.
International Speedway Corp. (NASDAQ: ISCA) Average Daily Trading Volume
6,078 shares traded hands yesterday, below normal, out of a total float 33,955,000. Momentum traders often use swings in trading volume to determine heavy volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
International Speedway Corp. (NASDAQ: ISCA) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
Traders are able to make make the best trades when they follow the activity of professional investors.
With that in mind, International Speedway Corp. (NASDAQ: ISCA) now has a 50-day MA of $35.80 and 200-day MA of $34.03. It has traded in a 52-week range between $29.71 – 39.95 and today’s last price is 3.50%% lower than the 52 week high of $39.95.
Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have increased their earnings at least 25% or more over 3 consecutive years.
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