StockNews.com Upgrades Fox Factory (NASDAQ:FOXF) to “Hold”

StockNews.com upgraded shares of Fox Factory (NASDAQ:FOXF) from a sell rating to a hold rating in a research note published on Thursday morning.

A number of other brokerages have also recently issued reports on FOXF. Robert W. Baird reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Bank of America decreased their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. B. Riley dropped their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Roth Mkm dropped their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.50.

Fox Factory Stock Performance

Shares of NASDAQ FOXF opened at $32.48 on Thursday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 124.93, a P/E/G ratio of 2.65 and a beta of 1.65. The stock’s 50-day moving average is $36.92 and its 200 day moving average is $41.96. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. Fox Factory has a 1-year low of $30.92 and a 1-year high of $70.13.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. During the same period last year, the business posted $1.05 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Several large investors have recently added to or reduced their stakes in FOXF. Pacer Advisors Inc. raised its holdings in Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after purchasing an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC bought a new position in Fox Factory in the second quarter worth about $53,294,000. Disciplined Growth Investors Inc. MN purchased a new stake in Fox Factory in the third quarter worth about $5,743,000. D. E. Shaw & Co. Inc. boosted its position in Fox Factory by 25.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after acquiring an additional 135,542 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its holdings in shares of Fox Factory by 15.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after acquiring an additional 127,187 shares during the period.

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.