Fox Factory (NASDAQ:FOXF) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Several other equities research analysts also recently commented on the stock. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating in a research note on Friday, November 23rd. They noted that the move was a valuation call. ValuEngine upgraded shares of Fox Factory from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 13th. Finally, Zacks Investment Research downgraded shares of Fox Factory from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 24th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Fox Factory currently has an average rating of “Buy” and a consensus price target of $63.83.
NASDAQ:FOXF opened at $66.43 on Wednesday. Fox Factory has a 12 month low of $33.20 and a 12 month high of $76.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.40 and a quick ratio of 1.29. The firm has a market cap of $2.56 billion, a PE ratio of 29.92, a P/E/G ratio of 1.77 and a beta of 1.11.
Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. Fox Factory had a net margin of 13.57% and a return on equity of 30.19%. The business had revenue of $156.81 million during the quarter, compared to the consensus estimate of $156.79 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, equities analysts predict that Fox Factory will post 2.52 EPS for the current year.
In related news, CFO Zvi Glasman sold 6,750 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $67.48, for a total transaction of $455,490.00. Following the completion of the transaction, the chief financial officer now directly owns 20,284 shares in the company, valued at $1,368,764.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dudley W. Mendenhall sold 4,645 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $63.18, for a total transaction of $293,471.10. Following the transaction, the director now owns 11,870 shares of the company’s stock, valued at $749,946.60. The disclosure for this sale can be found here. Insiders have sold 193,395 shares of company stock valued at $12,398,421 over the last 90 days. 5.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Fox Factory by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 424,683 shares of the company’s stock worth $25,000,000 after purchasing an additional 30,449 shares in the last quarter. Norges Bank purchased a new stake in Fox Factory during the 4th quarter valued at about $19,815,000. Amalgamated Bank purchased a new stake in Fox Factory during the 4th quarter valued at about $334,000. Legal & General Group Plc grew its stake in Fox Factory by 0.4% during the 4th quarter. Legal & General Group Plc now owns 88,508 shares of the company’s stock valued at $5,241,000 after acquiring an additional 334 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Fox Factory by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 26,963 shares of the company’s stock valued at $1,587,000 after acquiring an additional 593 shares in the last quarter. Institutional investors own 99.14% of the company’s stock.
About Fox Factory
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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