Analysts Set Fox Factory Holding Corp. (NASDAQ:FOXF) PT at $40.67

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $40.33.

Several research firms have recently issued reports on FOXF. Robert W. Baird reduced their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Truist Financial dropped their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America decreased their price target 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. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, December 11th.

Fox Factory Stock Down 2.5 %

Shares of NASDAQ FOXF opened at $28.86 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. Fox Factory has a 1 year low of $28.28 and a 1 year high of $69.46. The stock has a market capitalization of $1.20 billion, a P/E ratio of 111.00, a P/E/G ratio of 2.55 and a beta of 1.60. The company has a 50-day moving average price of $31.69 and a 200-day moving average price of $38.82.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Fox Factory by 223.3% in the second quarter. Victory Capital Management Inc. now owns 42,119 shares of the company’s stock worth $2,030,000 after purchasing an additional 29,092 shares during the period. Van Berkom & Associates Inc. grew its stake in Fox Factory by 1.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after buying an additional 13,936 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Fox Factory by 63.2% in the 2nd quarter. Malaga Cove Capital LLC now owns 9,379 shares of the company’s stock worth $452,000 after buying an additional 3,631 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Fox Factory by 11.6% during the 2nd quarter. AGF Management Ltd. now owns 52,070 shares of the company’s stock worth $2,509,000 after acquiring an additional 5,423 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its position in Fox Factory by 46.9% in the second quarter. Zions Bancorporation N.A. now owns 26,422 shares of the company’s stock worth $1,273,000 after acquiring an additional 8,434 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.