UBS Group Forecasts Strong Price Appreciation for FOX (NASDAQ:FOXA) Stock

FOX (NASDAQ:FOXA) had its target price increased by equities researchers at UBS Group from $50.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 13.25% from the company’s previous close.

FOXA has been the topic of a number of other research reports. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays boosted their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Finally, Guggenheim boosted their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.00.

FOX Stock Performance

NASDAQ:FOXA opened at $55.63 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.17 and a beta of 0.76. The firm’s fifty day simple moving average is $49.65 and its 200 day simple moving average is $44.67. FOX has a twelve month low of $28.28 and a twelve month high of $55.86.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new stake in shares of FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its stake in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its stake in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.