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

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $40.67.

A number of equities research analysts recently issued reports on FOXF shares. Bank of America reduced their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Roth Mkm reduced 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. Truist Financial decreased 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. Robert W. Baird cut their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th.

Fox Factory Stock Performance

NASDAQ FOXF opened at $31.30 on Friday. The business has a 50 day moving average price of $34.99 and a 200 day moving average price of $40.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company has a market capitalization of $1.30 billion, a P/E ratio of 120.39, a PEG ratio of 2.67 and a beta of 1.60. Fox Factory has a 1-year low of $30.13 and a 1-year high of $70.13.

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

Hedge Funds Weigh In On Fox Factory

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after purchasing an additional 277 shares during the period. Signaturefd LLC grew its stake in shares of Fox Factory by 301.1% in the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock valued at $30,000 after buying an additional 545 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Fox Factory during the 3rd quarter valued at about $42,000. KBC Group NV raised its holdings in shares of Fox Factory by 36.5% during the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after buying an additional 368 shares during the period. Finally, Fifth Third Bancorp lifted its position in Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after acquiring an additional 261 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.