FOX (NASDAQ:FOXA) Price Target Raised to $42.00

FOX (NASDAQ:FOXA - Free Report) had its price target hoisted by JPMorgan Chase & Co. from $41.00 to $42.00 in a research report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday. Rosenblatt Securities lifted their target price on shares of FOX from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of FOX from $42.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Macquarie boosted their price objective on shares of FOX from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Finally, Barclays boosted their price objective on shares of FOX from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $44.00.

FOX Price Performance

Shares of NASDAQ:FOXA traded up $0.60 during midday trading on Tuesday, reaching $43.60. 7,832,605 shares of the company's stock were exchanged, compared to its average volume of 2,984,395. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The firm has a market capitalization of $20.07 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The company's 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $37.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the firm posted $1.09 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that FOX will post 3.69 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO John Nallen sold 52,874 shares of the business's 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 sale, the chief operating officer now owns 249,424 shares of the company's stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Mirae Asset Global Investments Co. Ltd. raised its holdings in FOX by 70.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company's stock valued at $2,378,000 after buying an additional 30,866 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of FOX by 66.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company's stock worth $419,000 after purchasing an additional 5,331 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of FOX by 2.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company's stock worth $884,000 after purchasing an additional 784 shares during the period. Central Pacific Bank Trust Division bought a new stake in FOX during the 1st quarter worth approximately $329,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in FOX by 16.5% during the 1st 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 during the period. 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.