Fox Factory (NASDAQ:FOXF) PT Lowered to $48.00

Fox Factory (NASDAQ:FOXF) had its price target decreased by research analysts at Robert W. Baird from $55.00 to $48.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 10.29% from the company’s current price.

FOXF has been the topic of a number of other research reports. Stifel Nicolaus decreased their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. StockNews.com lowered shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Truist Financial decreased their price objective on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Bank of America lowered shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Fox Factory presently has an average rating of “Hold” and an average target price of $48.00.

Fox Factory Stock Up 10.4 %

FOXF opened at $43.52 on Friday. The firm’s 50-day simple moving average is $46.45 and its 200-day simple moving average is $59.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.50%. The business had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. Equities research analysts anticipate that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Hedge funds have recently modified their holdings of the company. Zions Bancorporation N.A. raised its position in shares of Fox Factory by 8.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company’s stock valued at $1,243,000 after acquiring an additional 991 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Fox Factory by 0.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock valued at $364,229,000 after acquiring an additional 33,703 shares during the period. CVA Family Office LLC acquired a new stake in Fox Factory during the 4th quarter worth approximately $55,000. VELA Investment Management LLC raised its holdings in Fox Factory by 56.6% during the 4th quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock worth $1,235,000 after buying an additional 6,613 shares during the period. Finally, Brookstone Capital Management raised its holdings in Fox Factory by 29.6% during the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock worth $434,000 after buying an additional 1,472 shares during the period.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.