Fox Factory (NASDAQ:FOXF) Cut to Buy at BidaskClub

BidaskClub lowered shares of Fox Factory (NASDAQ:FOXF) from a strong-buy rating to a buy rating in a report issued on Thursday, BidAskClub reports.

A number of other equities analysts have also commented on FOXF. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. SunTrust Banks raised their target price on shares of Markel to $1,100.00 and gave the company a hold rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $69.17.

NASDAQ:FOXF opened at $80.94 on Thursday. Fox Factory has a 52 week low of $47.15 and a 52 week high of $85.04. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35. The business’s 50-day simple moving average is $75.57. The company has a current ratio of 2.39, a quick ratio of 1.29 and a debt-to-equity ratio of 0.19.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. The business had revenue of $161.70 million for the quarter, compared to analyst estimates of $156.30 million. During the same period last year, the firm earned $0.36 earnings per share. Fox Factory’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts anticipate that Fox Factory will post 2.6 EPS for the current fiscal year.

In other Fox Factory news, CFO Zvi Glasman sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $82.50, for a total value of $412,500.00. Following the transaction, the chief financial officer now directly owns 20,284 shares of the company’s stock, valued at approximately $1,673,430. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Larry L. Enterline sold 100,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $67.41, for a total transaction of $6,741,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,652 shares in the company, valued at $381,001.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,865 shares of company stock worth $8,055,306. Insiders own 2.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in FOXF. Prudential Financial Inc. grew its stake in shares of Fox Factory by 9.5% during the fourth quarter. Prudential Financial Inc. now owns 68,750 shares of the company’s stock valued at $4,047,000 after acquiring an additional 5,970 shares in the last quarter. California Public Employees Retirement System grew its stake in Fox Factory by 5.8% in the fourth quarter. California Public Employees Retirement System now owns 54,987 shares of the company’s stock worth $3,237,000 after purchasing an additional 3,003 shares in the last quarter. New York State Common Retirement Fund grew its stake in Fox Factory by 6.8% in the fourth quarter. New York State Common Retirement Fund now owns 44,120 shares of the company’s stock worth $2,597,000 after purchasing an additional 2,820 shares in the last quarter. Texas Permanent School Fund grew its stake in Fox Factory by 4.5% in the fourth quarter. Texas Permanent School Fund now owns 24,859 shares of the company’s stock worth $1,463,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Fox Factory by 11.7% in the fourth quarter. Advisor Group Inc. now owns 3,440 shares of the company’s stock worth $203,000 after purchasing an additional 361 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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