Fox Factory (NASDAQ:FOXF) Upgraded to Hold at Zacks Research

Fox Factory (NASDAQ:FOXF) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research report on Thursday, April 16th. Roth Mkm reiterated a “neutral” rating and issued a $20.00 target price on shares of Fox Factory in a research note on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a research note on Wednesday. Finally, Weiss Ratings lowered Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.33.

Fox Factory Stock Down 0.3%

Shares of NASDAQ:FOXF opened at $17.76 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.99 and a debt-to-equity ratio of 1.00. Fox Factory has a 52-week low of $13.08 and a 52-week high of $31.18. The stock’s fifty day simple moving average is $17.13 and its 200-day simple moving average is $17.34. The company has a market capitalization of $744.64 million, a P/E ratio of -2.48, a P/E/G ratio of 0.63 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The business had revenue of $368.66 million for the quarter, compared to the consensus estimate of $351.76 million. During the same period in the prior year, the business earned $0.23 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Fox Factory will post 1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RWWM Inc. increased its stake in Fox Factory by 4.7% during the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock worth $91,074,000 after acquiring an additional 247,635 shares during the last quarter. Nantahala Capital Management LLC increased its stake in Fox Factory by 200.3% during the fourth quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after acquiring an additional 1,459,652 shares during the last quarter. Engine Capital Management LP increased its stake in Fox Factory by 162.3% during the first quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock worth $33,352,000 after acquiring an additional 1,253,808 shares during the last quarter. Estuary Capital Management LP increased its stake in Fox Factory by 15.3% during the first quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock worth $29,879,000 after acquiring an additional 240,512 shares during the last quarter. Finally, State Street Corp increased its stake in Fox Factory by 1.4% during the fourth quarter. State Street Corp now owns 1,620,544 shares of the company’s stock worth $27,728,000 after acquiring an additional 21,914 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.