FOX (NASDAQ:FOXA) Price Target Raised to $63.00

FOX (NASDAQ:FOXA - Get Free Report) had its price objective hoisted by equities research analysts at UBS Group from $50.00 to $63.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 13.25% from the company's previous close.

A number of other brokerages also recently issued reports on FOXA. Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Macquarie reissued a "neutral" rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Moffett Nathanson cut FOX from a "buy" rating to a "neutral" rating and lifted their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Guggenheim boosted their price objective on shares of FOX from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Evercore ISI upgraded FOX to a "hold" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $51.00.

FOX Stock Performance

FOXA stock traded up $0.18 during trading on Thursday, hitting $55.63. The company had a trading volume of 3,521,225 shares, compared to its average volume of 3,616,458. The firm has a market cap of $25.41 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. FOX has a 1-year low of $28.28 and a 1-year high of $55.86. The firm has a 50-day moving average price of $49.82 and a 200-day moving average price of $44.89. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction 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 sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new stake in FOX in the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its position in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX in the 4th quarter worth about $28,000. Jones Financial Companies Lllp lifted its position in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in FOX by 122.3% in the 4th 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 during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.