FOX (NASDAQ:FOXA) Stock Rating Upgraded by Cfra Research

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by equities research analysts at Cfra Research from a "hold" rating to a "moderate buy" rating in a research note issued to investors on Monday, April 7th,Zacks.com reports.

Several other analysts have also commented on FOXA. StockNews.com lowered shares of FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Bank of America lifted their price target on FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Moffett Nathanson cut shares of 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 research report on Tuesday, January 21st. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $50.94.

FOX Price Performance

NASDAQ:FOXA traded up $0.78 during mid-day trading on Monday, reaching $50.31. The stock had a trading volume of 1,149,533 shares, compared to its average volume of 3,363,983. FOX has a one year low of $30.02 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a 50 day moving average price of $53.88 and a two-hundred day moving average price of $48.99. The stock has a market capitalization of $22.81 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data 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 firm 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%. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, analysts expect that FOX will post 4.38 earnings per share for the current year.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated 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 directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the stock. DnB Asset Management AS lifted its holdings in FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after purchasing an additional 245 shares in the last quarter. Jones Financial Companies Lllp grew its stake in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after acquiring an additional 249 shares during the period. SRS Capital Advisors Inc. raised its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the last quarter. US Bancorp DE increased its stake in shares of FOX by 2.0% during the 4th quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after acquiring an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock worth $524,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

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.