FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

FOX (NASDAQ:FOXA) had its target price increased by analysts at Wells Fargo & Company from $59.00 to $64.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 20.21% from the stock’s current price.

Several other brokerages have also recently commented on FOXA. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Macquarie restated a “neutral” rating and set a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. UBS Group increased their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FOX from $42.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.19.

FOX Price Performance

Shares of FOXA opened at $53.24 on Wednesday. The stock has a 50 day simple moving average of $48.79 and a 200 day simple moving average of $44.03. FOX has a 52-week low of $28.28 and a 52-week high of $55.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market capitalization of $24.32 billion, a PE ratio of 13.02, a P/E/G ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Sell-side analysts predict that FOX will post 4.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s 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 completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of hedge funds have recently made changes to their positions in FOXA. Algert Global LLC purchased a new stake in shares of FOX in the second quarter worth approximately $362,000. Creative Planning grew its position in shares of FOX by 119.2% in the 2nd quarter. Creative Planning now owns 29,277 shares of the company’s stock worth $1,006,000 after buying an additional 15,921 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of FOX during the second quarter worth $962,000. Czech National Bank raised its stake in FOX by 3.9% in the third quarter. Czech National Bank now owns 45,762 shares of the company’s stock valued at $1,937,000 after buying an additional 1,714 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of FOX by 65.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,505 shares of the company’s stock valued at $233,000 after purchasing an additional 2,171 shares during the last quarter. 52.52% of the stock is 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.