FOX (NASDAQ:FOXA) Stock Rating Upgraded by Loop Capital

FOX (NASDAQ:FOXA – Get Rating) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a report issued on Wednesday, The Fly reports. The firm currently has a $40.00 price objective on the stock. Loop Capital’s price objective points to a potential upside of 22.44% from the company’s previous close.

A number of other analysts have also recently commented on the company. Royal Bank of Canada dropped their price objective on FOX from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Barclays reduced their price objective on shares of FOX from $37.00 to $36.00 in a research note on Tuesday, October 11th. Rosenblatt Securities lifted their target price on shares of FOX from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 2nd. Credit Suisse Group cut their price target on FOX from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, November 2nd. Finally, Guggenheim lowered their price objective on FOX from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.

FOX Price Performance

FOX stock opened at $32.67 on Wednesday. The company has a quick ratio of 3.16, a current ratio of 3.60 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $17.73 billion, a PE ratio of 16.34, a P/E/G ratio of 0.93 and a beta of 0.85. The firm’s 50-day simple moving average is $31.22 and its 200 day simple moving average is $32.09. FOX has a 52 week low of $28.01 and a 52 week high of $44.95.

FOX (NASDAQ:FOXA – Get Rating) last announced its earnings results on Tuesday, November 1st. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.06. FOX had a return on equity of 14.24% and a net margin of 7.85%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.20 billion. On average, equities research analysts predict that FOX will post 3.55 EPS for the current fiscal year.

Hedge Funds Weigh In On FOX

A number of large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC increased its position in shares of FOX by 104.1% in the third quarter. Eagle Bay Advisors LLC now owns 890 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in FOX by 226.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,022 shares of the company’s stock worth $32,000 after acquiring an additional 709 shares during the last quarter. CX Institutional acquired a new stake in shares of FOX during the 2nd quarter worth approximately $33,000. Private Trust Co. NA acquired a new stake in FOX in the second quarter worth $40,000. Finally, Ronald Blue Trust Inc. lifted its stake in FOX by 174.3% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,292 shares of the company’s stock valued at $40,000 after buying an additional 821 shares during the last quarter. 55.65% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.