FOX (NASDAQ:FOXA) Price Target Raised to $39.00 at Barclays

FOX (NASDAQ:FOXA) had its target price increased by equities researchers at Barclays from $36.00 to $39.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 6.59% from the company’s current price.

Several other research analysts have also recently commented on the company. Macquarie increased their price target on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Rosenblatt Securities lifted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their target price on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, FOX currently has an average rating of “Hold” and an average price target of $41.08.

FOX Stock Up 0.4 %

Shares of FOXA stock traded up $0.17 during trading on Wednesday, reaching $41.75. The company’s stock had a trading volume of 222,989 shares, compared to its average volume of 3,023,895. FOX has a one year low of $28.28 and a one year high of $42.63. The business has a fifty day moving average price of $40.33 and a 200-day moving average price of $35.85. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

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

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares during the period. UMB Bank n.a. lifted its position 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 purchasing an additional 809 shares during the period. Friedenthal Financial acquired a new stake in FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new position in FOX in the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of FOX in the 1st quarter valued at approximately $66,000. 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.