FOX (NASDAQ:FOXA) Given New $54.00 Price Target at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its price objective increased by analysts at JPMorgan Chase & Co. from $49.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 0.80% from the company’s previous close.

Several other research analysts have also issued reports on the company. Barclays increased their target price on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Macquarie reaffirmed a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Bank of America lifted their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Guggenheim boosted their price target on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus target price of $50.19.

FOX Price Performance

Shares of FOXA stock traded down $1.07 on Wednesday, hitting $53.57. 841,180 shares of the company’s stock were exchanged, compared to its average volume of 3,392,110. FOX has a 12 month low of $28.28 and a 12 month high of $55.56. The company has a 50 day moving average of $48.63 and a 200 day moving average of $43.95. 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 stock has a market cap of $24.47 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. On average, equities research analysts predict that FOX will post 4.12 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. JPMorgan Chase & Co. grew its position in FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Entropy Technologies LP acquired a new position in FOX in the third quarter valued at approximately $546,000. Invst LLC acquired a new position in FOX in the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in FOX in the third quarter valued at approximately $2,867,000. Finally, Park Avenue Securities LLC raised its position in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.