FOX (NASDAQ:FOXA) Price Target Raised to $50.00 at Barclays

FOX (NASDAQ:FOXA - Get Free Report) had its target price lifted by research analysts at Barclays from $39.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential downside of 5.29% from the company's previous close.

Several other brokerages also recently weighed in on FOXA. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Bank of America raised their price objective on FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, 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 report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $50.19.

FOX Price Performance

NASDAQ:FOXA traded down $0.45 during midday trading on Wednesday, hitting $52.79. The company had a trading volume of 2,976,688 shares, compared to its average volume of 3,616,458. The stock's fifty day moving average price is $49.03 and its 200-day moving average price is $44.25. FOX has a 52-week low of $28.28 and a 52-week high of $55.56. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.11 billion, a PE ratio of 11.30, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company's revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. As a group, research analysts expect that FOX will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock worth $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of FOX in the third quarter worth approximately $546,000. Invst LLC purchased a new position in FOX during the 3rd quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in FOX in the 3rd quarter valued at $2,867,000. Finally, Park Avenue Securities LLC lifted its position in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock worth $752,000 after purchasing an additional 3,787 shares during 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.