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

Fox Factory (NASDAQ:FOXF) had its target price reduced by B. Riley from $50.00 to $45.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Fox Factory’s FY2024 earnings at $2.32 EPS.

Several other research firms have also commented on FOXF. Bank of America lowered Fox Factory from a buy rating to a neutral rating and set a $55.00 price target on the stock. in a research report on Friday, February 23rd. Robert W. Baird reduced their target price on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a research report on Friday. Truist Financial decreased their price objective on shares of Fox Factory from $60.00 to $50.00 and set a buy rating for the company in a research report on Friday. Roth Mkm cut 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. Finally, Stifel Nicolaus dropped their price objective on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a report 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 MarketBeat, Fox Factory has an average rating of Hold and an average target price of $48.00.

Fox Factory Price Performance

FOXF stock opened at $43.52 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68. The stock’s fifty day simple moving average is $46.45 and its 200-day simple moving average is $59.31. Fox Factory has a 52-week low of $37.98 and a 52-week high of $117.68. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter in the previous year, the business earned $1.20 EPS. The firm’s revenue was down 16.6% on a year-over-year basis. Equities research analysts expect that Fox Factory will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FOXF. Zions Bancorporation N.A. raised its stake in Fox Factory by 8.6% during the third quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company’s stock worth $1,243,000 after acquiring an additional 991 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Fox Factory by 0.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock valued at $364,229,000 after purchasing an additional 33,703 shares during the period. CVA Family Office LLC bought a new position in Fox Factory during the 4th quarter worth $55,000. VELA Investment Management LLC raised its holdings in shares of Fox Factory by 56.6% during the fourth quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock valued at $1,235,000 after buying an additional 6,613 shares during the last quarter. Finally, Brookstone Capital Management increased its position in Fox Factory by 29.6% in the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock valued at $434,000 after acquiring an additional 1,472 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.