FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Loop Capital Analyst Says

FOX (NASDAQ:FOXA - Get Free Report) had its price target raised by investment analysts at Loop Capital from $62.00 to $64.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Loop Capital's target price would indicate a potential upside of 17.13% from the stock's previous close.

Other analysts also recently issued reports about the company. Wolfe Research downgraded FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Barclays cut their price target on FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. UBS Group dropped their price target on shares of FOX from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $52.35.

FOX Trading Up 4.2%

NASDAQ:FOXA traded up $2.22 on Tuesday, reaching $54.64. The company's stock had a trading volume of 1,409,370 shares, compared to its average volume of 3,435,399. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. FOX has a 12-month low of $32.45 and a 12-month high of $58.74. The stock has a 50 day moving average price of $51.27 and a 200 day moving average price of $50.03.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.17. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, equities analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. The trade was a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of FOX by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company's stock valued at $1,456,863,000 after buying an additional 518,835 shares during the period. Pacer Advisors Inc. boosted its position in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company's stock valued at $405,194,000 after acquiring an additional 425,186 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FOX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock worth $185,344,000 after buying an additional 39,959 shares in the last quarter. Invesco Ltd. grew its holdings in FOX by 3.0% during the 1st quarter. Invesco Ltd. now owns 3,680,293 shares of the company's stock valued at $208,305,000 after purchasing an additional 107,687 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after acquiring an additional 511,554 shares during the period. 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.

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