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

FOX (NASDAQ:FOXA) had its price target boosted by Loop Capital from $60.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price indicates a potential upside of 9.93% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. UBS Group increased their target price on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.56.

FOX Stock Down 0.4 %

FOX stock traded down $0.20 during midday trading on Tuesday, reaching $56.40. The company’s stock had a trading volume of 1,280,563 shares, compared to its average volume of 3,280,462. The company has a market cap of $25.57 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. FOX has a fifty-two week low of $30.02 and a fifty-two week high of $58.74. The business has a 50-day simple moving average of $53.86 and a 200-day simple moving average of $48.22.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company posted $0.34 earnings per share. FOX’s revenue was up 19.9% compared to the same quarter last year. On average, research analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The stock was 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 owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FOXA. DnB Asset Management AS raised its holdings in shares of FOX by 0.6% during the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after acquiring an additional 245 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the period. SRS Capital Advisors Inc. grew 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 buying an additional 262 shares during the last quarter. US Bancorp DE grew its stake in shares of FOX by 2.0% in the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after purchasing an additional 281 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in shares of FOX by 2.8% in the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock worth $524,000 after acquiring an additional 292 shares in the last quarter. 52.52% of the stock is currently owned by 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.