Fox Factory (NASDAQ:FOXF) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Fox Factory from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, September 18th. Robert W. Baird boosted their price target on shares of Fox Factory from $58.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 14th. ValuEngine raised shares of Fox Factory from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Bank of America boosted their price target on shares of Fox Factory from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Fox Factory from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.86.
Shares of FOXF stock opened at $59.27 on Thursday. Fox Factory has a 1 year low of $33.20 and a 1 year high of $73.10. The firm has a market cap of $2.65 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 2.18.
Fox Factory (NASDAQ:FOXF) last announced its earnings results on Wednesday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.08. Fox Factory had a net margin of 10.93% and a return on equity of 27.73%. The business had revenue of $156.80 million for the quarter, compared to analyst estimates of $146.72 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Fox Factory’s revenue was up 29.8% compared to the same quarter last year. Analysts predict that Fox Factory will post 2.09 EPS for the current year.
In other news, insider Wesley E. Allinger sold 20,000 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $49.10, for a total value of $982,000.00. Following the sale, the insider now owns 62,132 shares in the company, valued at approximately $3,050,681.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Tutton sold 3,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $63.79, for a total transaction of $191,370.00. Following the completion of the sale, the insider now owns 39,485 shares in the company, valued at approximately $2,518,748.15. The disclosure for this sale can be found here. Insiders sold a total of 195,216 shares of company stock worth $12,888,170 in the last three months. Insiders own 5.60% of the company’s stock.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Fox Factory in the 1st quarter valued at $118,000. Kessler Investment Group LLC acquired a new stake in shares of Fox Factory in the 2nd quarter valued at $144,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Fox Factory in the 1st quarter valued at $252,000. Profund Advisors LLC boosted its stake in shares of Fox Factory by 27.9% in the 1st quarter. Profund Advisors LLC now owns 7,435 shares of the company’s stock valued at $259,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Fox Factory by 25.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,631 shares of the company’s stock valued at $266,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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