FOX (NASDAQ:FOXA) Sets New 12-Month High – Should You Buy?

Shares of Fox Co. (NASDAQ:FOXA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $45.96 and last traded at $45.91, with a volume of 190523 shares traded. The stock had previously closed at $45.79.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FOXA shares. Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. The Goldman Sachs Group boosted their price target on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. UBS Group raised their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Up 1.3 %

The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.14 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $41.75 and a two-hundred day moving average price of $37.80.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,355 shares of company stock worth $14,244,865 in the last ninety days. 21.77% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial bought a new stake in FOX in the 2nd quarter valued at about $51,000. Quest Partners LLC acquired a new position in FOX during the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new position in FOX in the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FOX in the first quarter valued at approximately $66,000. Institutional investors and hedge funds 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.