FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Bank of America Analyst Says

FOX (NASDAQ:FOXA) had its price objective increased by stock analysts at Bank of America from $75.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 12.26% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Fox Advisors set a $97.00 target price on FOX in a report on Tuesday, October 28th. Citigroup boosted their price objective on shares of FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Barclays raised their target price on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. UBS Group boosted their price target on shares of FOX from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, TD Cowen increased their price target on shares of FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.38.

FOX Stock Performance

FOX stock opened at $71.26 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The firm has a market cap of $31.64 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.59 and a beta of 0.51. FOX has a 1-year low of $46.42 and a 1-year high of $72.96. The firm has a 50-day moving average of $64.62 and a 200-day moving average of $59.95.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the company posted $1.45 EPS. FOX’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 29,897 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the sale, the insider directly owned 35,978 shares of the company’s stock, valued at $2,502,269.90. The trade was a 45.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul D. Ryan sold 17,767 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 454,817 shares of company stock valued at $29,490,590 over the last ninety days. Company insiders own 19.68% of the company’s stock.

Hedge Funds Weigh In On FOX

Several large investors have recently modified their holdings of the stock. FWL Investment Management LLC purchased a new position in FOX in the third quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new stake in shares of FOX during the second quarter valued at approximately $35,000. Quantbot Technologies LP purchased a new position in FOX in the 3rd quarter worth approximately $51,000. Geneos Wealth Management Inc. raised its holdings in FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after acquiring an additional 621 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in FOX in the 3rd quarter valued at approximately $60,000. 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.