FOX (NASDAQ:FOXA) Upgraded at StockNews.com

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a research note released on Tuesday.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted 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. Loop Capital boosted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. Barclays lifted their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.00.

FOX Stock Down 0.2 %

FOX stock traded down $0.08 during mid-day trading on Tuesday, hitting $47.40. The company’s stock had a trading volume of 1,720,320 shares, compared to its average volume of 3,012,315. FOX has a 52-week low of $28.28 and a 52-week high of $47.58. The company has a market cap of $21.81 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm’s 50 day moving average is $42.12 and its 200 day moving average is $38.04.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several large investors have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV increased 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 valued at $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial bought a new stake in FOX in the 2nd quarter valued at $51,000. Quest Partners LLC acquired a new position in shares of FOX in the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX during the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. bought a new position in shares of FOX during the 1st quarter worth about $66,000. Institutional investors and hedge funds 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.