Robert W. Baird Cuts Fox Factory (NASDAQ:FOXF) Price Target to $48.00

Fox Factory (NASDAQ:FOXF) had its price objective lowered by Robert W. Baird from $55.00 to $48.00 in a research report report published on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Truist Financial decreased their price objective on shares of Fox Factory from $90.00 to $60.00 and set a buy rating on the stock in a research report on Friday, February 23rd. StockNews.com lowered Fox Factory from a hold rating to a sell rating in a research note on Monday, February 26th. Bank of America cut shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective on the stock. in a research report on Friday, February 23rd. Finally, Stifel Nicolaus cut their price target on Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $48.00.

Fox Factory Trading Up 10.4 %

Fox Factory stock opened at $43.52 on Friday. Fox Factory has a one year low of $37.98 and a one year high of $117.68. The business’s fifty day moving average is $46.45 and its 200 day moving average is $59.31. The stock has a market capitalization of $1.83 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68. 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 announced its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The business had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, sell-side analysts predict that Fox Factory will post 2.42 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Several hedge funds have recently added to or reduced their stakes in FOXF. Bank of New York Mellon Corp lifted its stake in shares of Fox Factory by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 440,251 shares of the company’s stock worth $43,620,000 after acquiring an additional 4,607 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fox Factory by 26.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company’s stock worth $700,000 after purchasing an additional 1,485 shares during the last quarter. Strs Ohio boosted its stake in shares of Fox Factory by 10.5% during the third quarter. Strs Ohio now owns 4,200 shares of the company’s stock valued at $416,000 after purchasing an additional 400 shares during the period. Advisor Partners II LLC bought a new position in shares of Fox Factory in the third quarter worth about $224,000. Finally, Park Avenue Securities LLC purchased a new position in Fox Factory in the 3rd quarter worth about $302,000.

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.