TD Cowen Raises FOX (NASDAQ:FOXA) Price Target to $42.00

FOX (NASDAQ:FOXA) had its price objective hoisted by TD Cowen from $36.00 to $42.00 in a report published on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts also recently issued reports on FOXA. Barclays raised their price objective 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. Evercore ISI raised their price objective on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Guggenheim increased their price objective on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.00.

FOX Price Performance

FOX stock opened at $44.67 on Tuesday. FOX has a 52 week low of $28.28 and a 52 week high of $45.82. The company’s 50 day moving average price is $41.53 and its two-hundred day moving average price is $37.48. The stock has a market cap of $20.56 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.95 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company posted $1.09 earnings per share. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that FOX will post 3.7 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 335,355 shares of company stock worth $14,244,865. 21.77% of the stock is currently owned by insiders.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV raised its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Quest Partners LLC bought a new stake in shares of FOX during the 3rd quarter valued at about $51,000. Friedenthal Financial purchased a new position in shares of FOX during the second quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new position in FOX in the second quarter worth about $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in FOX in the first quarter worth about $66,000. Hedge funds and other 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.