FOX (NASDAQ:FOXA) Upgraded at StockNews.com

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other analysts have also weighed in on FOXA. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price target on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, FOX has an average rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

FOX stock opened at $45.64 on Tuesday. The company’s 50 day moving average is $42.23 and its two-hundred day moving average is $38.14. The firm has a market cap of $21.00 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.20 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 has a 52-week low of $28.28 and a 52-week high of $47.58.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. On average, research analysts expect that FOX will post 3.94 EPS for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial purchased a new position in shares of FOX during the 2nd quarter worth approximately $51,000. Quest Partners LLC acquired a new stake in shares of FOX in the 3rd quarter valued at approximately $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX in the second quarter valued at approximately $52,000. Finally, Meeder Asset Management Inc. acquired a new position in FOX during the first quarter worth $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.