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Equities researchers at Bank of America initiated coverage on shares of Fox Factory Holding Corp (NASDAQ:FOXF) in a research report issued on Thursday. The firm set a “buy” rating and a $20.00 price target on the stock. Bank of America’s target price indicates a potential upside of 37.65% from the company’s current price.

Shares of Fox Factory Holding Corp (NASDAQ:FOXF) traded down 2.35% during mid-day trading on Thursday, hitting $14.53. The stock had a trading volume of 196,157 shares. Fox Factory Holding Corp has a 1-year low of $14.04 and a 1-year high of $20.75. The stock’s 50-day moving average is $16. and its 200-day moving average is $16.98. The company has a market cap of $531.9 million and a price-to-earnings ratio of 22.79.

Fox Factory Holding Corp (NASDAQ:FOXF) last released its earnings data on Wednesday, May 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.03. The company had revenue of $56.10 million for the quarter, compared to the consensus estimate of $55.97 million. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Fox Factory Holding Corp will post $0.91 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on FOXF. Analysts at Zacks downgraded shares of Fox Factory Holding Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $19.40 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $20.85.

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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