Fox Factory (NASDAQ:FOXF) Upgraded by StockNews.com to “Hold” Rating

Fox Factory (NASDAQ:FOXF) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently commented on the company. B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America cut their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Robert W. Baird decreased their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Roth Mkm cut their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Fox Factory has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Stock Up 0.6 %

NASDAQ FOXF opened at $32.48 on Thursday. 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 fifty-two week low of $30.92 and a fifty-two week high of $70.13. The business has a 50 day moving average price of $37.13 and a two-hundred day moving average price of $42.11. The stock has a market cap of $1.35 billion, a PE ratio of 124.92, a P/E/G ratio of 2.63 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its earnings results 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). Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. During the same quarter last year, the company posted $1.05 earnings per share. Fox Factory’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after acquiring an additional 277 shares during the period. Signaturefd LLC lifted its holdings in shares of Fox Factory by 301.1% in the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after purchasing an additional 545 shares during the last quarter. nVerses Capital LLC acquired a new position in Fox Factory during the 3rd quarter valued at approximately $42,000. Fifth Third Bancorp grew its stake in Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 shares during the last quarter. Finally, KBC Group NV increased its position in Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after buying an additional 368 shares during the period.

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.