Fox Factory (NASDAQ:FOXF) PT Lowered to $54.00 at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price target reduced by Truist Financial from $55.00 to $54.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

FOXF has been the topic of several other research reports. Roth Mkm cut their target price on Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. B. Riley dropped their price target on Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Robert W. Baird decreased their target price on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research report on Friday, May 3rd. Bank of America decreased their target price on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research report on Monday, May 6th. Finally, Stifel Nicolaus decreased their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $47.00.

Fox Factory Stock Down 0.5 %

Shares of NASDAQ FOXF traded down $0.21 during trading hours on Friday, hitting $41.27. The stock had a trading volume of 626,968 shares, compared to its average volume of 615,271. The company has a market capitalization of $1.72 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.10 and a beta of 1.66. The firm’s 50-day moving average price is $47.79 and its two-hundred day moving average price is $50.32. Fox Factory has a 52 week low of $37.48 and a 52 week high of $117.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The company had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. Analysts anticipate that Fox Factory will post 2.4 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Victory Capital Management Inc. lifted its position in Fox Factory by 223.3% in the 2nd quarter. Victory Capital Management Inc. now owns 42,119 shares of the company’s stock valued at $2,030,000 after acquiring an additional 29,092 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Fox Factory by 26.0% during the 2nd quarter. Principal Financial Group Inc. now owns 221,203 shares of the company’s stock valued at $10,660,000 after buying an additional 45,576 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Fox Factory during the 2nd quarter valued at $145,000. Louisiana State Employees Retirement System lifted its holdings in shares of Fox Factory by 71.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the company’s stock valued at $1,007,000 after buying an additional 8,700 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after buying an additional 261 shares during the period.

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.