Fox Factory (NASDAQ:FOXF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $44.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 12.68% 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. “

Other research analysts have also recently issued research reports about the company. Robert W. Baird reaffirmed a “hold” rating and set a $40.00 target price on shares of Fox Factory in a research note on Thursday, September 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $38.00 target price (up previously from $32.00) on shares of Fox Factory in a research note on Wednesday, August 9th. 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 research note on Thursday, September 21st. William Blair cut Fox Factory from an “outperform” rating to a “market perform” rating in a research note on Friday, October 13th. Finally, ValuEngine cut Fox Factory from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.29.

Fox Factory (NASDAQ FOXF) remained flat at $$39.05 on Wednesday. 188,076 shares of the company traded hands, compared to its average volume of 318,000. The stock has a market cap of $1,492.30, a P/E ratio of 26.15, a PEG ratio of 1.88 and a beta of 0.62. Fox Factory has a 1-year low of $25.25 and a 1-year high of $46.80. The company has a quick ratio of 1.41, a current ratio of 2.48 and a debt-to-equity ratio of 0.26.

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

In related news, SVP William H. Katherman sold 18,580 shares of the stock in a transaction that occurred 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 legal filing with the SEC, which is available at the SEC website. 21.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its position in Fox Factory by 76.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after acquiring an additional 1,332 shares in the last quarter. SG Americas Securities LLC bought a new stake in Fox Factory during the 2nd quarter valued at $111,000. LS Investment Advisors LLC boosted its position in Fox Factory by 7.5% during the 2nd 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. Paradigm Asset Management Co. LLC bought a new stake in Fox Factory during the 2nd quarter valued at $160,000. Finally, Pinebridge Investments L.P. boosted its position in Fox Factory by 20.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after acquiring an additional 778 shares in the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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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.

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