Fox Factory (NASDAQ:FOXF) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Fox Factory (NASDAQ:FOXF) from a sell rating to a hold rating in a research note published on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Robert W. Baird lowered their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Truist Financial lowered their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Bank of America lowered their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Fox Factory currently has an average rating of “Hold” and an average target price of $41.50.

Fox Factory Price Performance

Fox Factory stock opened at $32.30 on Thursday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 124.24, a price-to-earnings-growth ratio of 2.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. Fox Factory has a 1 year low of $30.92 and a 1 year high of $70.13. The firm has a 50-day moving average of $37.35 and a two-hundred day moving average of $42.17.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Fox Factory’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. On average, research analysts forecast that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FOXF. Price T Rowe Associates Inc. MD raised its stake in shares of Fox Factory by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,571 shares of the company’s stock worth $1,488,000 after acquiring an additional 2,647 shares in the last quarter. Jane Street Group LLC increased its stake in Fox Factory by 173.7% during the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after purchasing an additional 115,432 shares in the last quarter. Partnership Wealth Management LLC increased its stake in Fox Factory by 15.7% during the 2nd quarter. Partnership Wealth Management LLC now owns 19,093 shares of the company’s stock valued at $920,000 after purchasing an additional 2,591 shares in the last quarter. CWM LLC increased its stake in Fox Factory by 34.3% during the 2nd quarter. CWM LLC now owns 2,222 shares of the company’s stock valued at $107,000 after purchasing an additional 567 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in Fox Factory during the 2nd quarter valued at approximately $626,000.

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.