Fox Factory (NASDAQ:FOXF – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Other equities analysts have also recently issued research reports about the company. Roth Mkm initiated coverage on Fox Factory in a report on Wednesday, April 5th. They set a “neutral” rating and a $126.00 target price for the company. TheStreet upgraded Fox Factory from a “c+” rating to a “b” rating in a report on Tuesday, March 7th. Truist Financial upped their target price on shares of Fox Factory from $115.00 to $125.00 in a report on Friday, February 24th. Roth Capital reissued a “neutral” rating on shares of Fox Factory in a research note on Tuesday, April 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Fox Factory from $145.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, March 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $127.80.
Fox Factory Trading Down 0.5 %
FOXF stock opened at $95.09 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 3.48 and a debt-to-equity ratio of 0.31. Fox Factory has a 52-week low of $69.28 and a 52-week high of $127.54. The company’s 50-day simple moving average is $114.19 and its 200-day simple moving average is $107.53. The firm has a market cap of $4.02 billion, a P/E ratio of 20.28, a PEG ratio of 1.69 and a beta of 1.83.
Fox Factory (NASDAQ:FOXF – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.02. The business had revenue of $399.90 million during the quarter, compared to the consensus estimate of $393.85 million. Fox Factory had a return on equity of 20.99% and a net margin of 12.25%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS. As a group, equities analysts forecast that Fox Factory will post 5.15 EPS for the current fiscal year.
Institutional Trading of Fox Factory
Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Fox Factory by 0.5% during the first quarter. Principal Financial Group Inc. now owns 167,735 shares of the company’s stock worth $20,358,000 after acquiring an additional 903 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Fox Factory by 2.4% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 7,123 shares of the company’s stock worth $865,000 after purchasing an additional 169 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Fox Factory by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 450,465 shares of the company’s stock valued at $54,673,000 after buying an additional 1,186 shares during the period. Russell Investments Group Ltd. lifted its position in Fox Factory by 34.6% in the first quarter. Russell Investments Group Ltd. now owns 94,367 shares of the company’s stock valued at $11,453,000 after buying an additional 24,273 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Fox Factory by 3.3% during the first quarter. Eagle Asset Management Inc. now owns 107,507 shares of the company’s stock worth $13,048,000 after buying an additional 3,394 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.
About Fox Factory
Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.