Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $28.60 Average Price Target from Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.50.

A number of research firms have issued reports on FOXF. CJS Securities raised Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Roth Mkm cut their price objective on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th.

Fox Factory Stock Performance

NASDAQ:FOXF opened at $16.77 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. The company has a market cap of $703.17 million, a P/E ratio of -1.29 and a beta of 1.46. Fox Factory has a fifty-two week low of $13.08 and a fifty-two week high of $31.18. The firm’s 50 day moving average is $17.85 and its two-hundred day moving average is $18.99.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 EPS. Analysts expect that Fox Factory will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in shares of Fox Factory in the 3rd quarter valued at $25,000. First Horizon Corp purchased a new stake in Fox Factory during the 3rd quarter worth $25,000. Hantz Financial Services Inc. increased its holdings in Fox Factory by 188.1% in the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock valued at $35,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Fox Factory by 108.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Covestor Ltd raised its position in Fox Factory by 693.3% in the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock valued at $50,000 after purchasing an additional 2,572 shares during the period.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.