FOX (NASDAQ:FOX) Upgraded to “Overweight” at JPMorgan Chase & Co.

FOX (NASDAQ:FOX) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday,Benzinga reports. The firm presently has a $82.00 price target on the stock, up from their prior price target of $70.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 33.84% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings lowered shares of FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a research note on Friday, July 10th. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Friday. Finally, Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $76.00.

FOX Price Performance

Shares of FOX stock traded up $3.17 during trading on Friday, hitting $61.27. 371,468 shares of the company were exchanged, compared to its average volume of 1,643,302. FOX has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $51.45 and a 200 day moving average price of $54.38. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.59 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. On average, equities analysts expect that FOX will post 5.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FOX. Versant Capital Management Inc grew its stake in FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after buying an additional 251 shares during the period. Yousif Capital Management LLC raised its position in FOX by 1.5% in the fourth quarter. Yousif Capital Management LLC now owns 16,997 shares of the company’s stock valued at $1,107,000 after purchasing an additional 259 shares during the period. Baird Financial Group Inc. lifted its stake in shares of FOX by 1.1% during the second quarter. Baird Financial Group Inc. now owns 31,707 shares of the company’s stock worth $1,637,000 after purchasing an additional 343 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after purchasing an additional 475 shares in the last quarter. Finally, Arlington Partners LLC boosted its position in shares of FOX by 12.4% in the second quarter. Arlington Partners LLC now owns 5,054 shares of the company’s stock worth $237,000 after buying an additional 556 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.