Formula One Group Gets a Hold Rating from FBR Capital

By Carrie Williams

In a report released today, Barton Crockett from FBR Capital reiterated a Hold rating on Formula One Group (NASDAQ: FWONA), with a price target of $31. The company’s shares opened today at $30.43.

Crockett said:

“We update our Formula One model in the wake of the recent 1Q17 earnings report. After the report, we take a more constructive stance on the long-term growth opportunity on sponsorship and licensing, assuming that over five years it can double to over $500 million because of an extreme under-staffing correction. Although EBITDA goes up, the D&A seemed to be higher than we anticipated due to purchase amortization, taking EPS lower as a result.”

According to, Crockett is a 5-star analyst with an average return of 7.5% and a 61.6% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Cinemark Holdings Inc, and Regal Entertainment.

Formula One Group has an analyst consensus of Moderate Buy, with a price target consensus of $40.

The company has a one year high of $34.34 and a one year low of $17.72. Currently, Formula One Group has an average volume of 328.2K.

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Liberty Media Corp. operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. Its subsidiaries provide equipment and technology that deliver location-based services to wireless users. Liberty Media was founded on January 11, 2013 and is headquartered in Englewood, CO.