Fox Factory (NASDAQ:FOXF) Stock Price Up 8.2% – Should You Buy?

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price rose 8.2% during trading on Wednesday . The stock traded as high as $18.04 and last traded at $18.0790. Approximately 201,284 shares changed hands during trading, a decline of 67% from the average daily volume of 615,839 shares. The stock had previously closed at $16.71.

Analysts Set New Price Targets

FOXF has been the subject of several analyst reports. Zacks Research cut Fox Factory from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research report on Thursday, April 16th. Roth Mkm reiterated a “neutral” rating and issued a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Finally, Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.33.

Fox Factory Trading Up 7.8%

The firm has a market cap of $755.38 million, a PE ratio of -2.51, a PEG ratio of 0.57 and a beta of 1.37. The business has a 50-day moving average price of $16.90 and a two-hundred day moving average price of $17.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The business had revenue of $368.66 million during the quarter, compared to analysts’ expectations of $351.76 million. During the same quarter last year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that Fox Factory Holding Corp. will post 1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. RWWM Inc. increased its position in shares of Fox Factory by 4.7% in the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock valued at $91,074,000 after buying an additional 247,635 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Fox Factory by 200.3% during the fourth quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock valued at $37,442,000 after acquiring an additional 1,459,652 shares during the last quarter. Engine Capital Management LP boosted its stake 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 valued at $33,352,000 after acquiring an additional 1,253,808 shares during the last quarter. Estuary Capital Management LP boosted its stake in shares of Fox Factory by 15.3% during the first quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock valued at $29,879,000 after acquiring an additional 240,512 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Fox Factory by 1.4% during the fourth quarter. State Street Corp now owns 1,620,544 shares of the company’s stock valued at $27,728,000 after acquiring an additional 21,914 shares during the last quarter.

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.