FOX (NASDAQ:FOXA) Given a $65.00 Price Target by UBS Group Analysts

FOX (NASDAQ:FOXA) has been given a $65.00 price target by equities researchers at UBS Group in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 16.09% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on FOXA. Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Loop Capital boosted their price objective on shares of FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Wells Fargo & Company increased their target price on shares of FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Finally, Bank of America increased their target price on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $53.53.

FOX Price Performance

FOX stock opened at $55.99 on Wednesday. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.18 and a beta of 0.51. The firm’s fifty day moving average is $52.99 and its 200 day moving average is $52.10. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. FOX has a 52-week low of $33.82 and a 52-week high of $58.74.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. FOX’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Sell-side analysts forecast that FOX will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 5,607 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer now owns 133,923 shares of the company’s stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hemington Wealth Management increased its position in FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its stake in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in FOX by 122.3% during the fourth 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 during the period. Hedge funds and other 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.