B. Riley Trims Fox Factory (NASDAQ:FOXF) Target Price to $45.00

Fox Factory (NASDAQ:FOXF) had its target price cut by B. Riley from $50.00 to $45.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Fox Factory’s Q3 2024 earnings at $0.85 EPS and Q4 2024 earnings at $0.86 EPS.

FOXF has been the topic of several other reports. Roth Mkm reduced their price target 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. Robert W. Baird cut their target price on Fox Factory from $48.00 to $45.00 and set a neutral rating on the stock in a research note on Friday. Bank of America cut their target price on Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a research note on Monday, May 6th. Truist Financial cut their target price on Fox Factory from $55.00 to $54.00 and set a buy rating on the stock in a research note on Friday. Finally, Stifel Nicolaus cut their target price on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $47.00.

Fox Factory Stock Down 4.4 %

FOXF stock traded down $1.81 during midday trading on Friday, hitting $39.49. The stock had a trading volume of 243,442 shares, compared to its average volume of 614,784. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66. The business has a 50-day moving average of $47.79 and a two-hundred day moving average of $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 current ratio of 3.43 and a quick ratio of 1.85.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, equities research analysts forecast that Fox Factory will post 2.4 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Fox Factory in the fourth quarter valued at about $29,000. Quest Partners LLC bought a new position in shares of Fox Factory in the fourth quarter worth about $31,000. CWM LLC raised its stake in shares of Fox Factory by 54.1% in the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Fox Factory in the first quarter worth about $42,000. Finally, TFO Wealth Partners LLC raised its stake in shares of Fox Factory by 14,180.0% in the fourth quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after buying an additional 709 shares during the period.

Fox Factory Company Profile

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.