Credit Suisse Group Trims FOX (FOXA) Target Price to $45.00
FOX (NASDAQ:FOXA) had its price objective cut by equities researchers at Credit Suisse Group from $51.00 to $45.00 in a report issued on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price indicates a potential upside of 31.43% from the stock’s current price.
Several other equities research analysts have also commented on the company. Rosenblatt Securities initiated coverage on FOX in a research report on Monday, May 6th. They issued a “sell” rating and a $33.00 price objective on the stock. Moffett Nathanson initiated coverage on FOX in a research report on Friday, March 15th. They issued a “buy” rating and a $51.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on FOX in a research report on Monday, March 25th. They issued an “overweight” rating and a $46.00 price objective on the stock. BMO Capital Markets initiated coverage on FOX in a research report on Wednesday, April 10th. They issued a “market perform” rating and a $37.00 price objective on the stock. Finally, Buckingham Research initiated coverage on FOX in a research report on Thursday, March 21st. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.73.
FOX stock traded down $0.99 during mid-day trading on Monday, hitting $34.24. The company had a trading volume of 7,114,966 shares, compared to its average volume of 6,657,808. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.77 and a current ratio of 4.60. FOX has a 12-month low of $33.78 and a 12-month high of $41.95.
Several hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of FOX during the 1st quarter worth approximately $397,000. Centric Wealth Management acquired a new position in FOX in the 4th quarter valued at $235,000. MUFG Securities EMEA plc raised its stake in FOX by 1,852.8% in the 4th quarter. MUFG Securities EMEA plc now owns 558,000 shares of the company’s stock valued at $26,851,000 after purchasing an additional 529,425 shares during the last quarter. Norges Bank acquired a new position in FOX in the 4th quarter valued at $98,035,000. Finally, Coldstream Capital Management Inc. acquired a new position in FOX in the 4th quarter valued at $210,000. 51.23% of the stock is owned by institutional investors and hedge funds.
Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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