Analysts Set Fox Factory Holding Corp. (NASDAQ:FOXF) Target Price at $40.67

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $40.33.

Several analysts recently issued reports on the company. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, December 11th. Bank of America cut their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Truist Financial dropped their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Roth Mkm cut their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Fox Factory Price Performance

FOXF stock opened at $28.86 on Tuesday. The firm’s fifty day moving average is $31.69 and its 200 day moving average is $38.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. Fox Factory has a 52 week low of $28.28 and a 52 week high of $69.46. The firm has a market cap of $1.20 billion, a P/E ratio of 111.00, a P/E/G ratio of 2.55 and a beta of 1.60.

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

Institutional Trading of Fox Factory

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Fox Factory by 271.6% during the third quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after purchasing an additional 139,512 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Fox Factory by 20.3% during the third quarter. Synovus Financial Corp now owns 23,306 shares of the company’s stock valued at $967,000 after purchasing an additional 3,934 shares during the last quarter. Geode Capital Management LLC lifted its position in Fox Factory by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock valued at $41,595,000 after purchasing an additional 8,474 shares during the period. Disciplined Growth Investors Inc. MN bought a new position in Fox Factory during the third quarter valued at approximately $5,743,000. Finally, M&T Bank Corp boosted its holdings in Fox Factory by 70.4% in the third quarter. M&T Bank Corp now owns 36,795 shares of the company’s stock worth $1,528,000 after purchasing an additional 15,201 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.