FOX (NASDAQ:FOXA) Price Target Raised to $65.00 at UBS Group

FOX (NASDAQ:FOXA - Get Free Report) had its price objective lifted by UBS Group from $63.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price points to a potential upside of 15.49% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley lifted their target price on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Guggenheim increased their price target on FOX from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Barclays reaffirmed an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, FOX currently has a consensus rating of "Hold" and a consensus price target of $53.53.

FOX Trading Up 0.7%

Shares of NASDAQ:FOXA traded up $0.38 during mid-day trading on Wednesday, reaching $56.28. The stock had a trading volume of 329,258 shares, compared to its average volume of 3,559,727. The firm has a 50 day simple moving average of $52.84 and a two-hundred day simple moving average of $52.07. FOX has a twelve month low of $33.82 and a twelve month high of $58.74. The firm has a market cap of $25.31 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. FOX had a net margin of 11.58% and a return on equity of 17.99%. The company had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same period last year, the firm posted $1.40 earnings per share. The business's quarterly revenue was up 26.8% compared to the same quarter last year. On average, research analysts predict that FOX will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the transaction, the chief financial officer now owns 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the company. WealthTrak Capital Management LLC bought a new position in FOX in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its holdings in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after buying an additional 262 shares in the last quarter. Hemington Wealth Management boosted its stake in FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after buying an additional 359 shares in the last quarter. Jones Financial Companies Lllp grew its position in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares in 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.

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