Robert W. Baird Lowers Fox Factory (NASDAQ:FOXF) Price Target to $45.00

Fox Factory (NASDAQ:FOXF) had its target price dropped by analysts at Robert W. Baird from $48.00 to $45.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 8.49% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Bank of America decreased their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Truist Financial reduced their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday. Roth Mkm reduced their price target on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus reduced their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Finally, B. Riley reduced their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and a consensus target price of $47.00.

Fox Factory Trading Down 16.3 %

Shares of Fox Factory stock traded down $8.05 during trading hours on Friday, hitting $41.48. The company’s stock had a trading volume of 1,501,707 shares, compared to its average volume of 478,198. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85. The company has a market capitalization of $1.73 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66. Fox Factory has a 12 month low of $37.98 and a 12 month high of $117.68. The stock has a 50 day moving average of $47.79 and a 200 day moving average of $50.52.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $348.49 million during the quarter, compared to the consensus estimate of $346.22 million. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. Fox Factory’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Analysts predict that Fox Factory will post 2.4 earnings per share for the current year.

Insider Activity

In other Fox Factory news, CEO Michael C. Dennison acquired 11,250 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $44.30 per share, with a total value of $498,375.00. Following the completion of the transaction, the chief executive officer now directly owns 130,266 shares in the company, valued at approximately $5,770,783.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Michael C. Dennison purchased 11,250 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $44.30 per share, with a total value of $498,375.00. Following the acquisition, the chief executive officer now owns 130,266 shares in the company, valued at approximately $5,770,783.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of Fox Factory

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Fox Factory during the 4th quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in Fox Factory during the 4th quarter worth approximately $29,000. CWM LLC lifted its holdings in Fox Factory by 54.1% during the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after purchasing an additional 219 shares during the last quarter. TFO Wealth Partners LLC increased its stake in Fox Factory by 14,180.0% during the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after acquiring an additional 709 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in Fox Factory during the 1st quarter worth $42,000.

About Fox Factory

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.