Brokerages Set Fox Factory Holding Corp. (NASDAQ:FOXF) Target Price at $41.50

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $41.50.

Several analysts have weighed in on the company. Roth Mkm dropped their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. B. Riley decreased their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Robert W. Baird decreased their target price on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Bank of America decreased their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Truist Financial decreased their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st.

Hedge Funds Weigh In On Fox Factory

Several institutional investors and hedge funds have recently modified their holdings of FOXF. Russell Investments Group Ltd. grew its position in shares of Fox Factory by 67.6% in the 1st quarter. Russell Investments Group Ltd. now owns 59,981 shares of the company’s stock valued at $3,123,000 after purchasing an additional 24,199 shares during the period. ProShare Advisors LLC grew its position in shares of Fox Factory by 4.7% in the 1st quarter. ProShare Advisors LLC now owns 9,737 shares of the company’s stock valued at $507,000 after purchasing an additional 440 shares during the period. Vanguard Group Inc. grew its position in shares of Fox Factory by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares during the period. Covestor Ltd boosted its position in Fox Factory by 31.8% during the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after acquiring an additional 366 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Fox Factory by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after acquiring an additional 7,468 shares during the last quarter.

Fox Factory Stock Performance

Fox Factory stock opened at $32.43 on Monday. The stock has a 50-day simple moving average of $37.93 and a 200 day simple moving average of $42.57. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory has a 12-month low of $30.92 and a 12-month high of $70.13. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 124.66, a P/E/G ratio of 2.60 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, research analysts anticipate that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.