ValuEngine Downgrades Fox Factory (FOXF) to Hold

Fox Factory (NASDAQ:FOXF) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts have also weighed in on FOXF. Stifel Nicolaus reissued a “hold” rating and issued a $38.00 target price (up previously from $32.00) on shares of Fox Factory in a report on Wednesday, August 9th. Zacks Investment Research lowered Fox Factory from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Bank of America upped their target price on Fox Factory from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, September 21st. Robert W. Baird reissued a “hold” rating and issued a $40.00 target price on shares of Fox Factory in a report on Thursday, September 28th. Finally, William Blair lowered Fox Factory from an “outperform” rating to a “market perform” rating in a report on Friday, October 13th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Fox Factory presently has an average rating of “Hold” and a consensus target price of $39.29.

Shares of Fox Factory (FOXF) traded up $0.15 during mid-day trading on Friday, reaching $39.15. The company had a trading volume of 538,693 shares, compared to its average volume of 301,168. Fox Factory has a 52-week low of $24.63 and a 52-week high of $46.80. The firm has a market capitalization of $1,469.77, a price-to-earnings ratio of 25.76, a PEG ratio of 1.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.48 and a quick ratio of 1.41.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The firm had revenue of $127.40 million for the quarter, compared to analyst estimates of $123.02 million. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. Fox Factory’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. equities research analysts anticipate that Fox Factory will post 1.53 earnings per share for the current year.

In other news, SVP William H. Katherman sold 18,580 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total value of $780,545.80. The sale was disclosed in a filing with the SEC, which is available through this link. 21.40% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its position in shares of Fox Factory by 0.3% in the second quarter. Alps Advisors Inc. now owns 18,036 shares of the company’s stock valued at $642,000 after acquiring an additional 47 shares in the last quarter. Capstone Asset Management Co. lifted its position in shares of Fox Factory by 1.3% in the second quarter. Capstone Asset Management Co. now owns 11,250 shares of the company’s stock valued at $401,000 after acquiring an additional 140 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Fox Factory by 0.8% in the second quarter. Texas Permanent School Fund now owns 25,294 shares of the company’s stock valued at $900,000 after acquiring an additional 196 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Fox Factory by 0.3% in the second quarter. Prudential Financial Inc. now owns 57,980 shares of the company’s stock valued at $2,064,000 after acquiring an additional 200 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in shares of Fox Factory by 7.5% in the second quarter. LS Investment Advisors LLC now owns 3,990 shares of the company’s stock valued at $142,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

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About Fox Factory

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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