FOX (NASDAQ:FOXA) Price Target Raised to $52.00 at Barclays

FOX (NASDAQ:FOXA) had its target price increased by Barclays from $45.00 to $52.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on the company. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. UBS Group cut their price objective on FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company cut their price objective on FOX from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $52.71.

FOX Stock Performance

Shares of FOXA stock opened at $55.24 on Tuesday. The business’s 50-day moving average price is $51.27 and its 200-day moving average price is $50.06. FOX has a 12 month low of $32.45 and a 12 month high of $58.74. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.27 and a beta of 0.51. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities research analysts forecast that FOX will post 4.38 EPS for the current year.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently bought and sold shares of FOXA. WealthTrak Capital Management LLC bought a new stake in FOX during the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its holdings in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the fourth quarter worth $28,000. Hemington Wealth Management grew its holdings in FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Institutional investors 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.