FOX (NASDAQ:FOXA) Stock Rating Upgraded by StockNews.com

FOX (NASDAQ:FOXA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

FOXA has been the subject of a number of other reports. UBS Group upped their target price on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Cfra restated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Performance

NASDAQ:FOXA traded up $1.11 during mid-day trading on Tuesday, reaching $46.90. The company’s stock had a trading volume of 3,651,771 shares, compared to its average volume of 3,016,928. The firm’s fifty day moving average price is $41.75 and its two-hundred day moving average price is $37.80. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.58 billion, a P/E ratio of 11.47, a PEG ratio of 1.14 and a beta of 0.76. FOX has a 12-month low of $28.28 and a 12-month high of $46.97.

FOX (NASDAQ:FOXA) last posted its 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 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 the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that FOX will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,355 shares of company stock valued at $14,244,865 in the last ninety days. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

A number of hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of FOX during the second quarter valued at about $51,000. Quest Partners LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. bought a new position in shares of FOX during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors 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.