FOX (NASDAQ:FOXA) Rating Increased to Strong-Buy at Zacks Research

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

Several other research analysts have also commented on the company. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. TD Cowen increased their target price on shares of FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of FOX in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of FOX in a research report on Wednesday, October 8th. Finally, Citigroup lifted their target price on FOX from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.94.

FOX Stock Up 1.4%

FOXA stock opened at $64.53 on Monday. FOX has a twelve month low of $42.78 and a twelve month high of $66.56. 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 company has a market capitalization of $28.75 billion, a P/E ratio of 14.50, a PEG ratio of 1.43 and a beta of 0.52. The firm has a 50 day simple moving average of $60.27 and a 200-day simple moving average of $56.70.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data 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 net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the firm posted $1.45 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul D. Ryan sold 17,767 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Institutional investors have recently bought and sold shares of the stock. Hemington Wealth Management raised its position in shares of FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of FOX during the second quarter valued at approximately $35,000. Zions Bancorporation National Association UT acquired a new stake in shares of FOX in the first quarter valued at $40,000. Allworth Financial LP raised its position in FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after acquiring an additional 280 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of FOX by 112.5% in the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.