Analysts Set Fox Factory Holding Corp. (NASDAQ:FOXF) Price Target at $28.60

Fox Factory Holding Corp. (NASDAQ:FOXF) has received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $28.60.

A number of research firms have recently issued reports on FOXF. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Roth Mkm lowered their price target on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. CJS Securities raised Fox Factory to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of Fox Factory by 58.6% in the 4th quarter. Invesco Ltd. now owns 342,448 shares of the company’s stock worth $5,859,000 after acquiring an additional 126,477 shares during the last quarter. Veradace Capital Management LLC bought a new position in shares of Fox Factory during the 4th quarter valued at $287,000. State of Tennessee Department of Treasury grew its holdings in shares of Fox Factory by 78.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,472 shares of the company’s stock valued at $432,000 after purchasing an additional 10,345 shares during the last quarter. Empowered Funds LLC purchased a new position in Fox Factory in the 4th quarter worth $3,285,000. Finally, VARCOV Co. bought a new stake in Fox Factory in the fourth quarter worth $762,000.

Fox Factory Stock Performance

Shares of FOXF opened at $16.35 on Friday. Fox Factory has a 12-month low of $13.08 and a 12-month high of $31.18. The company has a current ratio of 2.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.96. The company has a market cap of $683.45 million, a PE ratio of -1.25 and a beta of 1.50. The stock has a 50-day moving average price of $18.57 and a 200-day moving average price of $20.45.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data 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. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The company had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. During the same period in the prior year, the business earned $0.31 earnings per share. Fox Factory’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Fox Factory will post 1.31 earnings per share for the current fiscal year.

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.