Bank of America Lowers Fox Factory (NASDAQ:FOXF) Price Target to $48.00

Fox Factory (NASDAQ:FOXF) had its target price decreased by Bank of America from $55.00 to $48.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 9.84% from the stock’s previous close.

FOXF has been the topic of a number of other reports. Roth Mkm cut their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Stifel Nicolaus decreased their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. StockNews.com lowered shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. B. Riley decreased their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Robert W. Baird cut their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.83.

Fox Factory Trading Down 1.4 %

Shares of Fox Factory stock opened at $43.70 on Monday. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $46.22 and a 200 day simple moving average of $58.70. Fox Factory has a 12-month low of $37.98 and a 12-month high of $117.68. The company has a market capitalization of $1.83 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The company had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. During the same period last year, the firm earned $1.20 earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Fox Factory will post 2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FOXF. Norges Bank purchased a new position in shares of Fox Factory in the 4th quarter worth about $31,429,000. FMR LLC boosted its stake in Fox Factory by 46.2% in the third quarter. FMR LLC now owns 1,136,720 shares of the company’s stock worth $112,626,000 after buying an additional 359,168 shares in the last quarter. Norden Group LLC grew its position in Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after acquiring an additional 278,185 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of Fox Factory during the third quarter worth approximately $27,247,000. Finally, RWWM Inc. bought a new stake in shares of Fox Factory in the 4th quarter worth approximately $7,969,000.

About Fox Factory

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.