FOX (NASDAQ:FOXA) PT Raised to $46.00 at Loop Capital

FOX (NASDAQ:FOXA) had its target price hoisted by investment analysts at Loop Capital from $43.00 to $46.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target would suggest a potential upside of 10.21% from the stock’s current price.

Several other research analysts also recently commented on FOXA. Guggenheim lifted their price target on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI lifted their price target on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Macquarie boosted their price objective on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, FOX has a consensus rating of “Hold” and an average target price of $41.08.

FOX Stock Up 0.4 %

Shares of FOXA stock opened at $41.74 on Tuesday. The stock’s 50 day simple moving average is $40.33 and its 200 day simple moving average is $35.85. 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 has a twelve month low of $28.28 and a twelve month high of $42.63. The company has a market capitalization of $19.48 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.85 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, research analysts predict that FOX will post 3.72 EPS for the current year.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares during the last quarter. UMB Bank n.a. increased its holdings in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after purchasing an additional 809 shares during the last quarter. Friedenthal Financial bought a new stake in FOX in the second quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX in the second quarter valued at about $52,000. Finally, Meeder Asset Management Inc. bought a new stake in FOX in the first quarter valued at about $66,000. 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.