FOX (NASDAQ:FOXA) Upgraded by Wolfe Research to Peer Perform Rating

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by investment analysts at Wolfe Research from an "underperform" rating to a "peer perform" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

A number of other analysts have also issued reports on FOXA. Loop Capital lifted their price objective on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Cfra Research cut FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Bank of America boosted their price target on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.53.

FOX Stock Up 2.8%

Shares of NASDAQ FOXA traded up $1.52 on Wednesday, hitting $56.73. The company had a trading volume of 5,008,330 shares, compared to its average volume of 3,619,889. FOX has a 12-month low of $35.43 and a 12-month high of $58.74. The business has a 50 day moving average of $54.56 and a two-hundred day moving average of $52.71. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25.51 billion, a P/E ratio of 14.11, a PEG ratio of 1.23 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company's revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. As a group, equities research analysts forecast that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,405,941.90. This represents a 22.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.77% of the company's stock.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently modified their holdings of FOXA. Jones Financial Companies Lllp raised its holdings in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after buying an additional 249 shares during the last quarter. M&T Bank Corp raised its holdings in shares of FOX by 10.5% during the fourth quarter. M&T Bank Corp now owns 16,185 shares of the company's stock valued at $786,000 after buying an additional 1,540 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $7,767,000. Raymond James Financial Inc. bought a new stake in shares of FOX during the fourth quarter valued at approximately $10,918,000. Finally, Callan Family Office LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $235,000. 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 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.