FOX (NASDAQ:FOX) Stock Rating Upgraded by Zacks Research

FOX (NASDAQ:FOX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

Several other research firms have also commented on FOX. Fox Advisors set a $95.00 price target on FOX in a research report on Monday, September 14th. Citizens Jmp raised FOX to a “strong-buy” rating in a research note on Monday, September 14th. Rothschild & Co Redburn set a $71.00 target price on FOX in a report on Friday, July 10th. Guggenheim reissued a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Finally, Weiss Ratings raised FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.67.

FOX Price Performance

FOX stock opened at $55.98 on Tuesday. FOX has a 52 week low of $44.08 and a 52 week high of $68.18. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $57.87 and a two-hundred day simple moving average of $55.33. The firm has a market capitalization of $23.49 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Analysts anticipate that FOX will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lachlan Murdoch acquired 149,934 shares of FOX stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CX Institutional grew its stake in shares of FOX by 54.4% during the third quarter. CX Institutional now owns 2,898 shares of the company’s stock valued at $163,000 after buying an additional 1,021 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of FOX by 2.6% during the 2nd quarter. QRG Capital Management Inc. now owns 28,896 shares of the company’s stock worth $1,354,000 after acquiring an additional 723 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of FOX by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock worth $311,000 after acquiring an additional 254 shares during the last quarter. National Pension Service lifted its stake in shares of FOX by 56.2% during the 2nd quarter. National Pension Service now owns 56,048 shares of the company’s stock worth $2,625,000 after acquiring an additional 20,157 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in FOX by 1,257.1% during the 2nd quarter. Engineers Gate Manager LP now owns 75,018 shares of the company’s stock valued at $3,514,000 after acquiring an additional 69,490 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOX) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.