Fox Factory (NASDAQ:FOXF) Upgraded at StockNews.com

StockNews.com upgraded shares of Fox Factory (NASDAQ:FOXF) from a sell rating to a hold rating in a research report released on Thursday.

A number of other research analysts have also recently issued reports on FOXF. B. Riley decreased their price objective 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. Bank of America lowered their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Truist Financial dropped their price objective on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Roth Mkm lowered their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird cut their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.50.

Fox Factory Stock Performance

FOXF stock opened at $32.48 on Thursday. Fox Factory has a twelve month low of $30.92 and a twelve month high of $70.13. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.35 billion, a P/E ratio of 124.92, a price-to-earnings-growth ratio of 2.63 and a beta of 1.65. The business’s fifty day moving average is $36.92 and its 200-day moving average is $42.00.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. Equities research analysts forecast that Fox Factory will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Fox Factory by 25,005.1% during the 2nd 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 Fox Factory in the second quarter valued at approximately $53,294,000. Disciplined Growth Investors Inc. MN acquired a new position in shares of Fox Factory during the 3rd quarter worth approximately $5,743,000. D. E. Shaw & Co. Inc. raised its stake in shares of Fox Factory by 25.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of Fox Factory by 15.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock valued at $38,471,000 after buying an additional 127,187 shares during the last quarter.

Fox Factory Company Profile

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.