Fox Factory (NASDAQ:FOXF) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

FOXF has been the subject of a number of other research reports. Roth Capital cut their price target on Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Wednesday, October 8th. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Stifel Nicolaus set a $33.00 price objective on shares of Fox Factory in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and an average price target of $30.17.

Fox Factory Stock Up 0.9%

FOXF stock opened at $18.33 on Tuesday. The business’s 50-day moving average price is $16.90 and its 200-day moving average price is $23.44. The stock has a market cap of $766.21 million, a P/E ratio of -2.97 and a beta of 1.46. Fox Factory has a twelve month low of $13.08 and a twelve month high of $31.18. The company has a quick ratio of 1.36, a current ratio of 2.98 and a debt-to-equity ratio of 0.69.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.33). The firm had revenue of $376.36 million for the quarter, compared to analysts’ expectations of $382.59 million. Fox Factory had a negative net margin of 17.66% and a positive return on equity of 4.84%. Fox Factory’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Fox Factory has set its FY 2025 guidance at 0.920-1.120 EPS and its Q4 2025 guidance at 0.050-0.250 EPS. On average, equities research analysts forecast that Fox Factory will post 1.31 EPS for the current year.

Institutional Trading of Fox Factory

Large investors have recently made changes to their positions in the stock. Inspire Investing LLC lifted its holdings in shares of Fox Factory by 3.6% during the second quarter. Inspire Investing LLC now owns 15,079 shares of the company’s stock worth $391,000 after purchasing an additional 523 shares during the period. Truist Financial Corp boosted its stake in shares of Fox Factory by 3.8% during the 2nd quarter. Truist Financial Corp now owns 15,576 shares of the company’s stock worth $404,000 after acquiring an additional 571 shares in the last quarter. First Bank & Trust raised its holdings in Fox Factory by 8.1% in the 3rd quarter. First Bank & Trust now owns 8,345 shares of the company’s stock worth $203,000 after purchasing an additional 623 shares during the period. KLP Kapitalforvaltning AS grew its holdings in Fox Factory by 9.2% in the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock valued at $202,000 after purchasing an additional 700 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Fox Factory by 0.6% in the second quarter. Legal & General Group Plc now owns 111,190 shares of the company’s stock valued at $2,884,000 after buying an additional 705 shares in the last quarter.

Fox Factory Company Profile

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.