Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $23.20 Average Price Target from Analysts

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.20.

Several research firms have recently commented on FOXF. Stifel Nicolaus set a $24.00 target price on Fox Factory in a research report on Thursday, April 16th. Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Fox Advisors set a $20.00 price objective on Fox Factory in a report on Tuesday, June 30th. Finally, Roth Capital reiterated a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th.

Fox Factory Stock Performance

NASDAQ FOXF opened at $17.38 on Friday. The stock has a market cap of $728.92 million, a PE ratio of -2.42, a P/E/G ratio of 0.68 and a beta of 1.37. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.52 and a current ratio of 2.99. The firm has a 50-day moving average of $17.45 and a 200-day moving average of $17.69. Fox Factory has a 52-week low of $13.08 and a 52-week high of $31.18.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The business had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.75 million. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. Fox Factory’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. On average, sell-side analysts anticipate that Fox Factory will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Several institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC grew its position in shares of Fox Factory by 200.3% during the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after purchasing an additional 1,459,652 shares in the last quarter. Engine Capital Management LP increased its holdings in shares of Fox Factory by 162.3% during the first quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock worth $33,352,000 after purchasing an additional 1,253,808 shares during the period. Towle & Co. acquired a new stake in shares of Fox Factory in the fourth quarter valued at approximately $8,967,000. ArrowMark Colorado Holdings LLC raised its position in shares of 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 buying an additional 522,391 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Fox Factory by 294.3% in the fourth quarter. Renaissance Technologies LLC now owns 547,693 shares of the company’s stock valued at $9,371,000 after buying an additional 408,800 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.