UBS Group Cuts FOX (NASDAQ:FOXA) Price Target to $61.00

FOX (NASDAQ:FOXA) had its price target dropped by analysts at UBS Group from $63.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 21.18% from the company’s current price.

Other research analysts have also recently issued reports about the company. Barclays reduced their price objective on FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Loop Capital raised their target price on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.94.

FOX Price Performance

FOXA stock traded up $0.81 during midday trading on Tuesday, reaching $50.34. The company had a trading volume of 811,404 shares, compared to its average volume of 3,362,694. The firm has a 50-day moving average price of $53.88 and a 200-day moving average price of $48.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company has a market capitalization of $22.83 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.27 and a beta of 0.51. FOX has a 1 year low of $30.02 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts anticipate that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Several hedge funds have recently bought and sold shares of the stock. WealthTrak Capital Management LLC bought a new position in shares of FOX during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its position in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the fourth quarter worth $28,000. Jones Financial Companies Lllp raised its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares in the last quarter. 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.