FOX (NASDAQ:FOXA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a research report released on Tuesday.

Several other equities research analysts also recently commented on FOXA. Guggenheim boosted their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Performance

NASDAQ:FOXA opened at $46.90 on Tuesday. The firm has a market capitalization of $21.58 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.14 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a 12-month low of $28.28 and a 12-month high of $46.97. The firm has a 50-day moving average price of $41.75 and a 200 day moving average price of $37.80.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Research analysts anticipate that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 335,355 shares of company stock worth $14,244,865 in the last quarter. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Several hedge funds have recently bought and sold shares of FOXA. Janney Montgomery Scott LLC raised its stake in FOX by 66.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after buying an additional 5,331 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of FOX by 16.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after acquiring an additional 4,776 shares in the last quarter. SG Americas Securities LLC raised its position in shares of FOX by 89.6% during the first quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock worth $1,575,000 after purchasing an additional 23,791 shares during the period. Meeder Asset Management Inc. bought a new position in shares of FOX during the 1st quarter valued at about $66,000. Finally, ProShare Advisors LLC grew its position in shares of FOX by 11.5% in the 1st quarter. ProShare Advisors LLC now owns 63,745 shares of the company’s stock valued at $1,993,000 after purchasing an additional 6,559 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

About FOX

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.