FOX (NASDAQ:FOXA) Reaches New 52-Week High – Should You Buy?

Fox Co. (NASDAQ:FOXA) reached a new 52-week high during trading on Wednesday . The stock traded as high as $49.30 and last traded at $49.07, with a volume of 6273535 shares changing hands. The stock had previously closed at $47.06.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Trading Up 4.3 %

The stock’s 50 day simple moving average is $44.68 and its 200 day simple moving average is $40.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market cap of $22.41 billion, a PE ratio of 12.00, a PEG ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by insiders.

Institutional Trading of FOX

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in FOX during the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX during the second quarter worth about $52,000. Quarry LP bought a new stake in shares of FOX in the third quarter worth about $70,000. Transamerica Financial Advisors Inc. bought a new stake in shares of FOX in the third quarter worth about $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in FOX during the 3rd quarter valued at about $141,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.