Fox Factory (NASDAQ:FOXF) Given New $40.00 Price Target at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price objective reduced by Truist Financial from $42.00 to $40.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Roth Mkm cut their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Robert W. Baird lowered their price objective 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. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, December 11th. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fox Factory has an average rating of “Hold” and an average target price of $40.33.

Fox Factory Price Performance

FOXF opened at $29.61 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. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 113.89, a P/E/G ratio of 2.55 and a beta of 1.60. Fox Factory has a 1 year low of $28.33 and a 1 year high of $69.46. The firm’s fifty day moving average price is $31.85 and its two-hundred day moving average price is $38.89.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS 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 firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. During the same period in the prior year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Fox Factory by 86.0% in the 3rd 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 stake in Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after acquiring an additional 545 shares in the last quarter. nVerses Capital LLC purchased a new position in Fox Factory during the 3rd quarter valued at about $42,000. KBC Group NV grew its position in Fox Factory by 36.5% in the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after acquiring an additional 368 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Fox Factory by 734.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,654 shares of the company’s stock worth $128,000 after purchasing an additional 2,336 shares during the period.

About Fox Factory

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.