Fox Factory Holding Corp. (FOXF) Given a $26.00 Price Target at Jefferies Group
Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned a $26.00 price target by research analysts at Jefferies Group in a report issued on Thursday. The brokerage presently has a a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 15.45% from the company’s previous close.
A number of other analysts also recently weighed in on FOXF. Zacks Investment Research downgraded Fox Factory Holding Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. DA Davidson boosted their price target on Fox Factory Holding Corp. from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. SunTrust Banks Inc. boosted their price target on Fox Factory Holding Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Fox Factory Holding Corp. in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $23.60.
Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) traded down 1.38% during trading on Thursday, reaching $22.21. The company’s stock had a trading volume of 160,318 shares. Fox Factory Holding Corp. has a 12 month low of $13.85 and a 12 month high of $23.52. The company’s 50 day moving average price is $21.50 and its 200 day moving average price is $18.46. The firm has a market cap of $814.02 million, a PE ratio of 28.47 and a beta of 0.55.
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Fox Factory Holding Corp. (NASDAQ:FOXF) last released its earnings results on Wednesday, August 3rd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm earned $102.30 million during the quarter, compared to the consensus estimate of $98.53 million. Fox Factory Holding Corp. had a return on equity of 27.62% and a net margin of 7.70%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. On average, equities analysts predict that Fox Factory Holding Corp. will post $1.15 earnings per share for the current year.
In other Fox Factory Holding Corp. news, CFO Zvi Glasman sold 30,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $20.12, for a total value of $603,600.00. Following the completion of the transaction, the chief financial officer now owns 62,021 shares of the company’s stock, valued at approximately $1,247,862.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 46.20% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of FOXF. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Fox Factory Holding Corp. during the second quarter worth about $23,374,000. Conestoga Capital Advisors LLC purchased a new position in shares of Fox Factory Holding Corp. during the second quarter worth about $10,254,000. Royce & Associates LP boosted its position in shares of Fox Factory Holding Corp. by 126.9% in the first quarter. Royce & Associates LP now owns 438,100 shares of the company’s stock worth $6,926,000 after buying an additional 245,000 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Fox Factory Holding Corp. by 11.8% in the first quarter. Lazard Asset Management LLC now owns 1,732,185 shares of the company’s stock worth $27,385,000 after buying an additional 182,840 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Fox Factory Holding Corp. by 11.1% in the second quarter. Royal Bank of Canada now owns 1,808,925 shares of the company’s stock worth $31,421,000 after buying an additional 180,848 shares during the last quarter. 57.23% of the stock is owned by institutional investors and hedge funds.
Fox Factory Holding Corp. Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures and markets performance ride dynamics products for customers across the world. The Company’s brand ride dynamics products are used primarily on bicycles (bikes), side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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