FOX (NASDAQ:FOXA) Given New $55.00 Price Target at Loop Capital

FOX (NASDAQ:FOXA) had its price objective upped by Loop Capital from $48.00 to $55.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 12.61% from the company’s current price.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft increased their price objective on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup lifted their price target on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America upped their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Guggenheim upped their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.87.

FOX Price Performance

FOXA stock opened at $48.84 on Wednesday. The firm has a 50 day simple moving average of $44.98 and a two-hundred day simple moving average of $40.45. The stock has a market cap of $22.31 billion, a PE ratio of 11.94, a P/E/G ratio of 1.18 and a beta of 0.77. FOX has a one year low of $28.28 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

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

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last 90 days. Company insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently modified their holdings of the stock. Quest Partners LLC bought a new position in FOX in the third quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new position in shares of FOX during the 2nd quarter worth approximately $52,000. Quarry LP bought a new position in shares of FOX in the 3rd quarter worth approximately $70,000. Transamerica Financial Advisors Inc. purchased a new position in shares of FOX in the 3rd quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of FOX in the 3rd quarter valued at approximately $141,000. 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.