Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $46.17 Consensus Price Target from Analysts

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $46.17.

Several research analysts have weighed in on the stock. Bank of America lowered their price objective 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 lowered their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, B. Riley reduced their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd.

Fox Factory Stock Down 0.3 %

Fox Factory stock opened at $37.17 on Thursday. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. Fox Factory has a 12-month low of $34.56 and a 12-month high of $86.14. The firm’s fifty day moving average is $39.91 and its 200 day moving average is $43.47. The company has a market capitalization of $1.55 billion, a PE ratio of 37.93, a PEG ratio of 2.55 and a beta of 1.64.

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

Insiders Place Their Bets

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the business’s 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 transaction, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Fox Factory

A number of institutional investors and hedge funds have recently modified their holdings of FOXF. Pacer Advisors Inc. lifted its holdings in shares of Fox Factory by 25,005.1% in the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after buying an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Fox Factory in the second quarter valued at approximately $53,294,000. Norden Group LLC raised its stake in Fox Factory by 3,378.1% in the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after purchasing an additional 278,185 shares in the last quarter. Vanguard Group Inc. raised its stake in Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Fox Factory by 25.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after purchasing an additional 135,542 shares in 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.