FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Loop Capital Analyst Says

FOX (NASDAQ:FOXA) had its target price increased by Loop Capital from $48.00 to $55.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on FOXA. Guggenheim raised their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Bank of America lifted their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.87.

FOX Trading Down 1.1 %

NASDAQ:FOXA traded down $0.53 during mid-day trading on Wednesday, reaching $48.90. 986,236 shares of the company’s stock traded hands, compared to its average volume of 3,124,418. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.18 and a beta of 0.77. FOX has a 12-month low of $28.28 and a 12-month high of $50.63. The company has a 50 day moving average price of $44.83 and a 200-day moving average price of $40.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

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

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 in the last ninety days. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in FOX during the third quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter worth about $52,000. Quarry LP purchased a new stake in shares of FOX during the 3rd quarter valued at about $70,000. Transamerica Financial Advisors Inc. bought a new position in shares of FOX in the 3rd quarter valued at about $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in FOX in the third quarter worth about $141,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.