Fox Factory Holding Corp. (FOXF) Receives Average Recommendation of “Buy” from Analysts
Fox Factory Holding Corp. (NASDAQ:FOXF) has received a consensus rating of “Buy” from the seven brokerages that are presently covering the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.00.
Several research analysts recently commented on the company. Jefferies Group assumed coverage on Fox Factory Holding Corp. in a research note on Friday, September 30th. They set a “buy” rating and a $26.00 target price for the company. Zacks Investment Research raised Fox Factory Holding Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, August 5th. SunTrust Banks Inc. boosted their target price on Fox Factory Holding Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. DA Davidson boosted their target price on Fox Factory Holding Corp. from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Fox Factory Holding Corp. in a research note on Thursday, August 4th.
In other Fox Factory Holding Corp. news, CFO Zvi Glasman sold 30,000 shares of Fox Factory Holding Corp. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $20.12, for a total transaction of $603,600.00. Following the completion of the sale, the chief financial officer now directly owns 62,021 shares of the company’s stock, valued at approximately $1,247,862.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 46.20% of the company’s stock.
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A number of hedge funds have recently made changes to their positions in the company. GW&K Investment Management LLC increased its stake in shares of Fox Factory Holding Corp. by 14.1% in the second quarter. GW&K Investment Management LLC now owns 168,234 shares of the company’s stock worth $2,922,000 after buying an additional 20,734 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in Fox Factory Holding Corp. during the second quarter valued at $499,000. Bank of Montreal Can purchased a new stake in Fox Factory Holding Corp. during the second quarter valued at $147,000. Conestoga Capital Advisors LLC purchased a new stake in Fox Factory Holding Corp. during the second quarter valued at $10,254,000. Finally, Boothbay Fund Management LLC purchased a new stake in Fox Factory Holding Corp. during the first quarter valued at $238,000. 57.23% of the stock is owned by institutional investors.
Fox Factory Holding Corp. (NASDAQ:FOXF) traded down 0.40% during trading on Thursday, hitting $22.43. The stock had a trading volume of 79,524 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 is $21.50 and its 200-day moving average is $18.46. The company has a market cap of $822.08 million, a PE ratio of 28.76 and a beta of 0.55.
Fox Factory Holding Corp. (NASDAQ:FOXF) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. Fox Factory Holding Corp. had a return on equity of 27.62% and a net margin of 7.70%. The business earned $102.30 million during the quarter, compared to analysts’ expectations of $98.53 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Fox Factory Holding Corp. will post $1.15 earnings per share for the current year.
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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