FOX (NASDAQ:FOXA) Upgraded at Wolfe Research

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by 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.

FOXA has been the subject of a number of other reports. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Loop Capital increased their price target on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Bank of America increased their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Barclays restated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Finally, Morgan Stanley increased their price target on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.53.

FOX Price Performance

FOXA stock traded up $0.92 during midday trading on Wednesday, hitting $56.13. The company's stock had a trading volume of 1,106,812 shares, compared to its average volume of 3,597,109. 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 $25.24 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51. FOX has a 12 month low of $35.18 and a 12 month high of $58.74. The company has a 50 day moving average of $54.41 and a two-hundred day moving average of $52.66.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The firm 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 quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, analysts expect that FOX will post 4.38 EPS for the current year.

Insider Activity

In related news, CFO Steven Tomsic sold 39,642 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its stake in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in FOX by 152.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after purchasing an additional 19,181 shares in the last quarter. Summit Trail Advisors LLC increased its stake in FOX by 199.8% in the 1st quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock valued at $1,744,000 after purchasing an additional 20,531 shares in the last quarter. Finally, Monument Capital Management purchased a new position in FOX during the first quarter worth $3,123,000. 52.52% of the stock is owned by hedge funds and other 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.