FOX (NASDAQ:FOXA) Price Target Raised to $62.00

FOX (NASDAQ:FOXA) had its target price upped by equities research analysts at Loop Capital from $60.00 to $62.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 9.93% from the company’s previous close.

FOXA has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.56.

FOX Price Performance

FOX stock traded down $0.20 during trading hours on Tuesday, reaching $56.40. 1,280,563 shares of the stock were exchanged, compared to its average volume of 3,280,462. The stock has a 50 day moving average of $53.86 and a two-hundred day moving average of $48.22. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. FOX has a twelve month low of $30.02 and a twelve month high of $58.74. The company has a market cap of $25.57 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. Equities analysts expect that FOX will post 4.38 EPS for the current fiscal year.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently modified their holdings of FOXA. WealthTrak Capital Management LLC acquired a new stake in shares of FOX during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. raised its holdings in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX in the 4th quarter valued at $28,000. Jones Financial Companies Lllp grew its holdings in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.