Fox Factory (NASDAQ:FOXF) Stock Price Up 7.6%

Fox Factory Holding Corp. (NASDAQ:FOXF) rose 7.6% during trading on Thursday . The company traded as high as $42.74 and last traded at $42.66. Approximately 198,730 shares were traded during trading, a decline of 66% from the average daily volume of 592,905 shares. The stock had previously closed at $39.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial lowered their target price on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, B. Riley lowered their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.17.

Fox Factory Stock Up 9.4 %

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 2.48 and a beta of 1.63. The firm’s fifty day moving average is $42.98 and its 200-day moving average is $45.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. On average, sell-side analysts predict that Fox Factory Holding Corp. will post 1.56 earnings per share for the current year.

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fox Factory

Several institutional investors have recently modified their holdings of FOXF. Pacer Advisors Inc. grew its position in shares of Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after acquiring an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Fox Factory during the second quarter worth about $53,294,000. Norges Bank bought a new position in shares of Fox Factory during the fourth quarter worth about $31,429,000. Norden Group LLC grew its position in shares of Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after acquiring an additional 278,185 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Fox Factory by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after buying an additional 228,339 shares in the last quarter.

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.