Truist Financial Has Lowered Expectations for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXF) had its target price decreased by research analysts at Truist Financial from $42.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 38.60% from the stock’s current price.

A number of other brokerages have also recently commented on FOXF. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Robert W. Baird dropped their price target 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. Roth Mkm decreased their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fox Factory has a consensus rating of “Hold” and a consensus price target of $40.33.

Fox Factory Trading Down 2.5 %

Shares of Fox Factory stock opened at $28.86 on Tuesday. Fox Factory has a twelve month low of $28.28 and a twelve month high of $69.46. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $31.69 and a 200-day moving average price of $38.82. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 111.00, a PEG ratio of 2.55 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $359.10 million during 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 was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts anticipate that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. grew its position in Fox Factory by 25.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after acquiring an additional 135,542 shares during the last quarter. Disciplined Growth Investors Inc. MN bought a new position in shares of Fox Factory in the third quarter worth about $5,743,000. Victory Capital Management Inc. increased its stake in Fox Factory by 223.3% in the 2nd quarter. Victory Capital Management Inc. now owns 42,119 shares of the company’s stock worth $2,030,000 after buying an additional 29,092 shares during the period. Thrivent Financial for Lutherans increased its stake in Fox Factory by 89.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock worth $2,844,000 after buying an additional 32,263 shares during the period. Finally, Barclays PLC lifted its holdings in Fox Factory by 474.7% during the 3rd quarter. Barclays PLC now owns 122,806 shares of the company’s stock valued at $5,097,000 after buying an additional 101,437 shares in the last quarter.

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.