Fox Factory Holding Corp Now Covered by Analysts at Piper Jaffray Cos. (FOXF)
Investment analysts at Piper Jaffray Cos. assumed coverage on shares of Fox Factory Holding Corp (NASDAQ:FOXF) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
The analysts wrote, “Fox’s premium brand, leadership in the ride dynamics category and partnerships with top OEMs have enabled Fox to post strong revenue and earnings growth and we expect this trend to continue. Favorable industry trends, a commitment to innovation and many untapped markets give us confidence in the company’s ability to meet or exceed its high-single to low-double digit revenue growth goal. When coupled with initiatives underway to potentially reach a high-teens operating margin, we are forecasting 20%-plus adjusted net income growth in 2014 and 2015 and expect mid-teens to 20% EPS growth over the longer-term. Our $21 price target is based on 18x CY15 EPS, a 20% premium to the peer group though we view it as reasonable given the earnings growth profile.”
Fox Factory Holding Corp (NASDAQ:FOXF) traded down 1.87% on Tuesday, hitting $17.821. The stock had a trading volume of 12,178 shares. Fox Factory Holding Corp has a one year low of $16.36 and a one year high of $19.47. The stock has a 50-day moving average of $17.64 and a 200-day moving average of $17.64. The company has a market cap of $647.2 million and a price-to-earnings ratio of 39.56.
Separately, analysts at SunTrust initiated coverage on shares of Fox Factory Holding Corp (NASDAQ:FOXF) in a research note to investors on Tuesday. They set a “buy” rating on the stock.
One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $23.00.
Fox Factory Holding Corp is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, or side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (NASDAQ:FOXF), snowmobiles, specialty vehicles and applications, and motorcycles.
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