Fox Factory Holding Corp. (NASDAQ:FOXF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $44.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 12.24% from the stock’s previous close.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

FOXF has been the subject of several other reports. ValuEngine upgraded Fox Factory Holding Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded Fox Factory Holding Corp. from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. Stifel Nicolaus reiterated a “hold” rating and set a $38.00 price target (up from $32.00) on shares of Fox Factory Holding Corp. in a report on Wednesday, August 9th. CL King lowered Fox Factory Holding Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, June 1st. Finally, DA Davidson downgraded Fox Factory Holding Corp. from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Wednesday, May 17th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $35.67.

Fox Factory Holding Corp. (NASDAQ:FOXF) traded down 0.38% during mid-day trading on Thursday, reaching $39.20. 153,381 shares of the company were exchanged. The company has a market cap of $1.47 billion, a P/E ratio of 31.36 and a beta of 0.68. Fox Factory Holding Corp. has a 12 month low of $19.65 and a 12 month high of $40.50. The stock’s 50-day moving average is $38.32 and its 200-day moving average is $32.72.

Fox Factory Holding Corp. (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $120.80 million during the quarter, compared to analyst estimates of $117.16 million. Fox Factory Holding Corp. had a return on equity of 29.60% and a net margin of 10.67%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities analysts expect that Fox Factory Holding Corp. will post $1.50 earnings per share for the current year.

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In other Fox Factory Holding Corp. news, CFO Zvi Glasman sold 10,200 shares of Fox Factory Holding Corp. stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.34, for a total value of $401,268.00. Following the transaction, the chief financial officer now directly owns 82,325 shares of the company’s stock, valued at approximately $3,238,665.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wesley E. Allinger sold 17,418 shares of Fox Factory Holding Corp. stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $32.88, for a total value of $572,703.84. Following the completion of the transaction, the insider now directly owns 29,419 shares in the company, valued at $967,296.72. The disclosure for this sale can be found here. Insiders sold a total of 69,577 shares of company stock worth $2,558,446 over the last three months. 21.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Navellier & Associates Inc bought a new position in Fox Factory Holding Corp. in the 2nd quarter worth approximately $718,000. Piedmont Investment Advisors LLC bought a new position in Fox Factory Holding Corp. in the 2nd quarter worth approximately $267,000. Ameritas Investment Partners Inc. increased its position in Fox Factory Holding Corp. by 76.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock worth $110,000 after buying an additional 1,332 shares during the period. California State Teachers Retirement System increased its position in Fox Factory Holding Corp. by 41.1% in the 2nd quarter. California State Teachers Retirement System now owns 62,124 shares of the company’s stock worth $2,212,000 after buying an additional 18,100 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Fox Factory Holding Corp. by 54.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,622 shares of the company’s stock worth $984,000 after buying an additional 9,721 shares during the period. 97.03% of the stock is currently owned by institutional investors.

About Fox Factory Holding Corp.

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including 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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Analyst Recommendations for Fox Factory Holding Corp. (NASDAQ:FOXF)

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