Fox Factory (FOXF) Lifted to “Buy” at DA Davidson

Fox Factory (NASDAQ:FOXF) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.

Several other equities analysts have also issued reports on FOXF. William Blair lowered Fox Factory from an “outperform” rating to a “market perform” rating in a research report on Friday, October 13th. SunTrust Banks reiterated a “hold” rating and issued a $36.00 price objective on shares of Fox Factory in a research report on Friday, October 20th. Zacks Investment Research lowered Fox Factory from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Bank of America boosted their price objective on Fox Factory from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Fox Factory in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Fox Factory currently has a consensus rating of “Hold” and an average target price of $39.43.

Shares of Fox Factory (NASDAQ FOXF) traded up $0.05 on Thursday, hitting $36.90. The company had a trading volume of 72,966 shares, compared to its average volume of 188,313. 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 has a 1-year low of $25.74 and a 1-year high of $46.80. The firm has a market cap of $1,370.29, a price-to-earnings ratio of 28.60, a PEG ratio of 1.43 and a beta of 0.56.

In other Fox Factory news, CFO Zvi Glasman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.37, for a total transaction of $393,700.00. Following the completion of the transaction, the chief financial officer now owns 160,331 shares of the company’s stock, valued at approximately $6,312,231.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Larry L. Enterline sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $38.08, for a total value of $2,856,000.00. Following the transaction, the chief executive officer now directly owns 124,934 shares of the company’s stock, valued at approximately $4,757,486.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $3,845,500. Insiders own 21.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FOXF. Schwab Charles Investment Management Inc. boosted its position in Fox Factory by 59.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 151,194 shares of the company’s stock worth $5,383,000 after acquiring an additional 56,538 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Fox Factory during the 2nd quarter worth approximately $677,000. Alliancebernstein L.P. boosted its position in Fox Factory by 88.3% during the 2nd quarter. Alliancebernstein L.P. now owns 43,500 shares of the company’s stock worth $1,549,000 after acquiring an additional 20,400 shares during the last quarter. Teachers Advisors LLC boosted its position in Fox Factory by 59.1% during the 2nd quarter. Teachers Advisors LLC now owns 63,139 shares of the company’s stock worth $2,248,000 after acquiring an additional 23,457 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Fox Factory by 56.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 94,289 shares of the company’s stock worth $3,357,000 after acquiring an additional 33,895 shares during the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

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