Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $23.20 Average Price Target from Analysts

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $21.00.

FOXF has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Roth Capital reiterated a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a report on Friday, May 8th. Bank of America downgraded shares of Fox Factory from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $24.00 to $20.00 in a report on Tuesday, June 30th. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Fox Advisors set a $20.00 price target on shares of Fox Factory in a report on Tuesday, June 30th.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Standard LLC purchased a new stake in shares of Fox Factory during the 4th quarter worth about $2,053,000. Teachers Retirement System of The State of Kentucky lifted its position in Fox Factory by 3,173.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock valued at $6,650,000 after buying an additional 376,792 shares in the last quarter. RWWM Inc. lifted its position in Fox Factory by 4.7% during the first 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 in the last quarter. Sei Investments Co. grew its stake in Fox Factory by 103.4% during the first quarter. Sei Investments Co. now owns 213,103 shares of the company’s stock worth $3,508,000 after buying an additional 108,321 shares during the period. Finally, Engine Capital Management LP grew 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 buying an additional 1,253,808 shares during the period.

Fox Factory Stock Down 0.5%

FOXF stock opened at $21.03 on Thursday. The company has a 50 day moving average price of $18.16 and a two-hundred day moving average price of $17.78. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.55 and a current ratio of 3.10. The stock has a market capitalization of $882.00 million, a P/E ratio of -2.95, a PEG ratio of 0.80 and a beta of 1.35. Fox Factory has a one year low of $13.08 and a one year high of $30.75.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.19. The business had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $352.94 million. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts expect that Fox Factory will post 1.45 EPS for the current year.

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.