FOX (NASDAQ:FOXA) Upgraded to Moderate Buy at Cfra Research

Key Points

• FOX has been upgraded by Cfra Research from a "hold" rating to a "moderate buy" rating, indicating positive sentiment among analysts.
• Several analysts have set new price targets, with UBS Group and Morgan Stanley both targeting $65.00 for FOX shares, reflecting growing confidence in the stock's performance.
• FOX reported quarterly earnings of $1.27 per share, surpassing expectations, and its revenue increased by 6.3% year-over-year, showcasing its financial strength.

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by research analysts at Cfra Research from a "hold" rating to a "moderate buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. UBS Group set a $65.00 price target on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Morgan Stanley boosted their price target on shares of FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, Loop Capital lifted their price objective on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of "Hold" and a consensus target price of $53.82.

FOX Trading Down 1.3%

Shares of NASDAQ:FOXA opened at $54.20 on Tuesday. The company has a market cap of $24.37 billion, a PE ratio of 11.04, a P/E/G ratio of 1.22 and a beta of 0.54. The company's 50-day moving average price is $55.42 and its 200 day moving average price is $53.61. FOX has a fifty-two week low of $38.52 and a fifty-two week high of $58.74. The company has a quick ratio of 2.33, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. FOX's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. Sell-side analysts anticipate that FOX will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 in the company, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.77% of the company's stock.

Institutional Trading of FOX

A number of institutional investors have recently added to or reduced their stakes in FOXA. LPL Financial LLC lifted its stake in FOX by 133.8% in the fourth quarter. LPL Financial LLC now owns 43,791 shares of the company's stock valued at $2,127,000 after acquiring an additional 25,060 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after buying an additional 368 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of FOX in the fourth quarter worth $3,372,000. FMR LLC lifted its stake in shares of FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after buying an additional 1,330,908 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of FOX by 1.6% in the fourth quarter. Bank of Montreal Can now owns 186,902 shares of the company's stock worth $9,080,000 after buying an additional 2,975 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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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