Guggenheim Increases FOX (NASDAQ:FOXA) Price Target to $45.00

FOX (NASDAQ:FOXA) had its price target raised by equities research analysts at Guggenheim from $44.00 to $45.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 6.66% from the stock’s previous close.

Several other research firms have also commented on FOXA. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Rosenblatt Securities increased their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Evercore ISI increased their price objective on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group increased their price objective on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.71.

FOX Trading Up 2.6 %

FOXA traded up $1.08 during trading on Tuesday, reaching $42.19. 1,132,038 shares of the stock traded hands, compared to its average volume of 3,050,961. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $19.69 billion, a PE ratio of 13.23, a P/E/G ratio of 1.78 and a beta of 0.76. The stock’s 50-day moving average is $39.29 and its 200 day moving average is $34.90. FOX has a 12 month low of $28.28 and a 12 month high of $42.32.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. Equities analysts anticipate that FOX will post 3.72 earnings per share for the current year.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in FOX by 176.6% during the second 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. UMB Bank n.a. boosted its stake in FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after acquiring an additional 809 shares in the last quarter. Friedenthal Financial bought a new stake in FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the second quarter worth about $52,000. Finally, Meeder Asset Management Inc. bought a new stake in FOX during the first quarter worth about $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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.