Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $36.43 Average PT from Analysts

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.43.

A number of brokerages recently issued reports on FOXF. Stifel Nicolaus dropped their target price on shares of Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Truist Financial increased their target price on shares of Fox Factory from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Robert W. Baird lowered their price objective on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Finally, Jefferies Financial Group lowered their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 28th.

Fox Factory Trading Up 1.0%

Shares of Fox Factory stock opened at $27.55 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 105.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.52. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $26.11. Fox Factory has a 12-month low of $17.95 and a 12-month high of $54.86.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to analysts’ expectations of $330.71 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. Research analysts expect that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOXF. CWM LLC increased its position in Fox Factory by 76.2% in the 1st quarter. CWM LLC now owns 1,341 shares of the company’s stock valued at $31,000 after acquiring an additional 580 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock valued at $32,000 after purchasing an additional 807 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company’s stock valued at $40,000 after purchasing an additional 1,217 shares during the last quarter. Quarry LP bought a new position in shares of Fox Factory in the 4th quarter valued at about $45,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during 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.