FOX (NASDAQ:FOXA) Stock Price Expected to Rise, TD Cowen Analyst Says

FOX (NASDAQ:FOXA) had its price target boosted by TD Cowen from $36.00 to $42.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently commented on FOXA. Barclays raised their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Rosenblatt Securities upped their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America increased their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Performance

FOXA opened at $44.60 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The business has a fifty day simple moving average of $41.66 and a 200 day simple moving average of $37.62. FOX has a 1 year low of $28.28 and a 1 year high of $45.82. The company has a market capitalization of $20.53 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. FOX’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that FOX will post 3.87 EPS for the current year.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,355 shares of company stock worth $14,244,865. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in shares of FOX in the 3rd quarter worth $5,043,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in FOX by 7.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 261,089 shares of the company’s stock worth $11,052,000 after purchasing an additional 17,149 shares in the last quarter. Commerce Bank purchased a new stake in FOX in the 3rd quarter valued at about $301,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FOX during the 3rd quarter worth approximately $2,867,000. Finally, Quest Partners LLC purchased a new position in shares of FOX in the 3rd quarter worth approximately $51,000. 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.