Fox Factory (NASDAQ:FOXF) PT Lowered to $48.00 at Bank of America

Fox Factory (NASDAQ:FOXF) had its target price lowered by Bank of America from $55.00 to $48.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus lowered their price objective on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Truist Financial dropped their price target 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, May 3rd. Robert W. Baird reduced their price objective on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research note on Friday, May 3rd. B. Riley lowered their target price on shares of Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Finally, Roth Mkm cut their price target on Fox Factory from $55.00 to $45.00 and set a neutral rating for the company in a research note on Friday, May 3rd. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $46.83.

Fox Factory Stock Performance

Shares of NASDAQ FOXF opened at $45.67 on Monday. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. Fox Factory has a 12-month low of $37.98 and a 12-month high of $117.68. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68. The firm has a 50 day moving average of $46.13 and a 200 day moving average of $58.60.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Entropy Technologies LP boosted its position in shares of Fox Factory by 365.5% during the 1st quarter. Entropy Technologies LP now owns 15,856 shares of the company’s stock valued at $826,000 after acquiring an additional 12,450 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in Fox Factory by 172.8% during the first quarter. Motley Fool Asset Management LLC now owns 41,704 shares of the company’s stock valued at $2,172,000 after purchasing an additional 26,416 shares in the last quarter. ProShare Advisors LLC lifted its position in Fox Factory by 4.7% during the first quarter. ProShare Advisors LLC now owns 9,737 shares of the company’s stock valued at $507,000 after purchasing an additional 440 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Fox Factory by 67.6% in the 1st quarter. Russell Investments Group Ltd. now owns 59,981 shares of the company’s stock worth $3,123,000 after buying an additional 24,199 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Fox Factory by 851.1% in the 1st quarter. Headlands Technologies LLC now owns 3,367 shares of the company’s stock worth $175,000 after buying an additional 3,013 shares during the last quarter.

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.