Bank of America Boosts FOX (NASDAQ:FOXA) Price Target to $50.00

by · The Markets Daily

FOX (NASDAQ:FOXA – Get Free Report) had its price target raised by stock analysts at Bank of America from $45.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 18.20% from the company’s current price.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of FOX from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday. Macquarie boosted their target price on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Guggenheim boosted their target price on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.64.

Get Our Latest Research Report on FOX

FOX Trading Up 0.8 %

FOXA opened at $42.30 on Wednesday. FOX has a 1-year low of $28.28 and a 1-year high of $42.44. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company has a market cap of $19.74 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The company has a fifty day moving average price of $39.49 and a two-hundred day moving average price of $35.04.

FOX (NASDAQ:FOXA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Analysts predict that FOX will post 3.72 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently modified their holdings of FOXA. KBC Group NV lifted its stake in shares of FOX by 453.0% during the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after buying an additional 1,662,748 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of FOX by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after buying an additional 1,653,913 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of FOX by 128.0% during the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after buying an additional 1,287,911 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after buying an additional 912,250 shares in the last quarter. Finally, AXA S.A. lifted its stake in shares of FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after buying an additional 663,089 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

(Get Free Report)

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.

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