Fox Factory (NASDAQ:FOXF) PT Lowered to $45.00

Fox Factory (NASDAQ:FOXF) had its target price decreased by Stifel Nicolaus from $56.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 10.73% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Bank of America downgraded 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. Truist Financial cut 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, StockNews.com downgraded shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.00.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $40.64 on Wednesday. The company has a market capitalization of $1.71 billion, a PE ratio of 14.26, a P/E/G ratio of 3.42 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. The company has a 50-day simple moving average of $50.75 and a two-hundred day simple moving average of $62.71. Fox Factory has a one year low of $40.15 and a one year high of $117.68.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). The firm had revenue of $332.50 million during the quarter, compared to the consensus estimate of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Research analysts expect that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Fox Factory during the 4th quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of Fox Factory during the 4th quarter valued at approximately $31,000. Operose Advisors LLC purchased a new position in shares of Fox Factory during the 3rd quarter valued at approximately $37,000. Assetmark Inc. lifted its position in shares of Fox Factory by 171.4% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after buying an additional 240 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Fox Factory by 54.1% during the 4th quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after buying an additional 219 shares in the last quarter.

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.