Truist Financial Reaffirms Buy Rating for Fox Factory (NASDAQ:FOXF)

Truist Financial restated their buy rating on shares of Fox Factory (NASDAQ:FOXF) in a report issued on Friday morning, Marketbeat Ratings reports. Truist Financial currently has a $90.00 target price on the stock.

FOXF has been the topic of several other reports. StockNews.com initiated coverage on Fox Factory in a research report on Thursday, October 5th. They set a hold rating on the stock. Stifel Nicolaus downgraded Fox Factory from a buy rating to a hold rating in a research report on Friday, November 3rd. Bank of America lifted their target price on Fox Factory from $130.00 to $135.00 and gave the company a buy rating in a research report on Thursday, August 24th. B. Riley reissued a neutral rating and set a $80.00 price target (down from $125.00) on shares of Fox Factory in a report on Friday, November 3rd. Finally, Roth Mkm decreased their price target on Fox Factory from $112.00 to $90.00 and set a neutral rating on the stock in a report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $111.43.

Fox Factory Price Performance

NASDAQ FOXF opened at $61.72 on Friday. The company has a market capitalization of $2.62 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.40 and a beta of 1.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 3.85. The business’s fifty day moving average is $85.20 and its 200 day moving average is $96.89. Fox Factory has a fifty-two week low of $49.12 and a fifty-two week high of $127.54.

Insider Buying and Selling at Fox Factory

In other news, insider Paul Stecher sold 2,300 shares of Fox Factory stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $107.00, for a total value of $246,100.00. Following the sale, the insider now directly owns 16,360 shares of the company’s stock, valued at $1,750,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Fox Factory by 1.3% during the second quarter. BlackRock Inc. now owns 5,111,261 shares of the company’s stock valued at $554,623,000 after buying an additional 64,353 shares during the period. Vanguard Group Inc. lifted its holdings in Fox Factory by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,141,837 shares of the company’s stock worth $327,537,000 after buying an additional 12,523 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Fox Factory by 0.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after buying an additional 33,703 shares during the period. Wasatch Advisors LP lifted its holdings in Fox Factory by 14.8% during the second quarter. Wasatch Advisors LP now owns 2,963,714 shares of the company’s stock worth $321,593,000 after buying an additional 381,845 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Fox Factory by 0.3% during the first quarter. Clearbridge Investments LLC now owns 1,600,160 shares of the company’s stock worth $156,736,000 after buying an additional 4,061 shares during the period.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.