Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Average Target Price of $20.50 According to Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has been given an average rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.60.

A number of equities research analysts have weighed in on FOXF shares. Fox Advisors set a $20.00 target price on Fox Factory in a research report on Tuesday, June 30th. Bank of America cut Fox Factory from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $24.00 to $20.00 in a research note on Tuesday, June 30th. Roth Capital reiterated a “neutral” rating and issued a $17.00 target price on shares of Fox Factory in a research note on Monday. Zacks Research lowered shares of Fox Factory from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th.

Institutional Trading of Fox Factory

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Fox Factory in the second quarter valued at approximately $109,706,000. RWWM Inc. lifted its holdings in shares of Fox Factory by 4.7% in the 1st quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock valued at $91,074,000 after buying an additional 247,635 shares during the period. Engine Capital Management LP grew its holdings 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 period. Estuary Capital Management LP boosted its holdings 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 buying an additional 240,512 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Fox Factory by 26.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,271,969 shares of the company’s stock valued at $20,937,000 after buying an additional 262,076 shares during the period.

Fox Factory Stock Performance

NASDAQ FOXF opened at $15.33 on Tuesday. The company has a market cap of $644.32 million, a P/E ratio of -2.15, a P/E/G ratio of 1.52 and a beta of 1.41. The business’s 50 day moving average price is $19.22 and its 200-day moving average price is $18.31. Fox Factory has a fifty-two week low of $13.08 and a fifty-two week high of $25.43. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.55 and a current ratio of 3.10.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The company had revenue of $358.12 million for the quarter, compared to the consensus estimate of $352.94 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts predict that Fox Factory will post 1.01 earnings per share for the current year.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance products for cycling, powered vehicles and other recreational applications. The company is best known for its suspension systems and components, including forks, shocks and related technologies used on mountain bikes, motorcycles, snowmobiles, trucks and side-by-side vehicles.

Through brands including FOX, Race Face, Easton Cycling, Marzocchi, Ride Concepts, Bell, Giro and CamelBak, Fox Factory offers bicycle components, wheels, drivetrain and cockpit products, cycling shoes, helmets, protective equipment, hydration products and apparel.