Fox Factory Holding Corp. (NASDAQ:FOXF) Receives Average Rating of “Hold” from Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $46.17.

Several research analysts have commented on FOXF shares. B. Riley decreased their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America lowered their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Robert W. Baird decreased their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial dropped their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Insider Activity at Fox Factory

In related news, CEO Michael C. Dennison bought 4,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now owns 135,066 shares in the company, valued at approximately $5,597,135.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds have recently bought and sold shares of FOXF. Vanguard Group Inc. raised its holdings in Fox Factory by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after buying an additional 46,132 shares during the last quarter. Brookstone Capital Management boosted its stake in Fox Factory by 14.0% during the 1st quarter. Brookstone Capital Management now owns 7,340 shares of the company’s stock valued at $382,000 after purchasing an additional 903 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Fox Factory in the 1st quarter worth $260,000. Norden Group LLC raised its stake in shares of Fox Factory by 3,378.1% in the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after purchasing an additional 278,185 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in shares of Fox Factory during the first quarter valued at $781,000.

Fox Factory Stock Performance

Fox Factory stock opened at $37.05 on Thursday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.54 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.55 and a beta of 1.64. Fox Factory has a 1-year low of $34.56 and a 1-year high of $86.14. The firm has a 50-day moving average of $39.76 and a 200-day moving average of $43.40.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. Sell-side analysts expect that Fox Factory will post 1.56 EPS for the current 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.