Fox Factory Holding Corp. (NASDAQ:FOXF) Given Average Rating of “Hold” by Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $28.60.

FOXF has been the topic of several analyst reports. CJS Securities raised Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a report on Thursday, January 22nd. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Roth Mkm dropped their price objective on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 6th.

Fox Factory Trading Up 3.5%

NASDAQ FOXF opened at $17.03 on Thursday. Fox Factory has a 1 year low of $13.08 and a 1 year high of $31.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. The company has a market capitalization of $714.07 million, a PE ratio of -1.31 and a beta of 1.46. The company has a fifty day moving average of $17.95 and a 200 day moving average of $19.14.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $361.07 million for the quarter, compared to the consensus estimate of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Research analysts forecast that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Trading of Fox Factory

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC increased its stake in shares of Fox Factory by 200.3% in the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock valued at $37,442,000 after purchasing an additional 1,459,652 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in Fox Factory during the second quarter worth approximately $21,228,000. Engine Capital Management LP purchased a new position in Fox Factory during the fourth quarter worth approximately $13,216,000. Towle & Co. acquired a new stake in Fox Factory in the fourth quarter valued at approximately $8,967,000. Finally, ArrowMark Colorado Holdings LLC grew its holdings in Fox Factory by 72.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after purchasing an additional 522,391 shares during the period.

About Fox Factory

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.