FOX (NASDAQ:FOXA) Price Target Raised to $63.00 at UBS Group

FOX (NASDAQ:FOXA) had its price target boosted by stock analysts at UBS Group from $50.00 to $63.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 13.25% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Loop Capital raised their price objective on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Morgan Stanley increased their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Guggenheim increased their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average target price of $51.00.

FOX Trading Up 0.3 %

FOX stock opened at $55.63 on Thursday. The company has a 50 day moving average price of $49.65 and a 200 day moving average price of $44.67. FOX has a 52 week low of $28.28 and a 52 week high of $55.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.34 EPS. The company’s revenue was up 19.9% on a year-over-year basis. Research analysts forecast that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. Pacer Advisors Inc. grew its position in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Norges Bank acquired a new stake in FOX in the 4th quarter worth $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in FOX in the 4th quarter worth $67,471,000. FMR LLC grew its position in FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company’s stock worth $91,570,000 after purchasing an additional 1,330,908 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.