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

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have earned a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $23.20.

A number of analysts have recently issued reports on FOXF shares. Fox Advisors set a $20.00 price objective on shares of Fox Factory in a research note 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. Weiss Ratings cut shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $24.00 target price on Fox Factory in a research note on Thursday, April 16th. Finally, Bank of America lowered Fox Factory from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th.

Institutional Trading of Fox Factory

Several institutional investors have recently added to or reduced their stakes in FOXF. Hantz Financial Services Inc. grew its holdings in Fox Factory by 188.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after acquiring an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Fox Factory by 108.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after purchasing an additional 1,079 shares during the last quarter. Covestor Ltd grew its stake in Fox Factory by 693.3% in the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after purchasing an additional 2,572 shares in the last quarter. Resona Asset Management Co. Ltd. grew its stake in Fox Factory by 33.3% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after purchasing an additional 1,035 shares in the last quarter. Finally, OP Asset Management Ltd bought a new stake in Fox Factory in the first quarter valued at about $91,000.

Fox Factory Trading Down 2.6%

Shares of FOXF opened at $19.02 on Friday. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18. The stock’s 50-day moving average is $17.49 and its two-hundred day moving average is $17.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. The stock has a market cap of $797.70 million, a PE ratio of -2.65, a P/E/G ratio of 0.74 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.09 by $0.09. The business had revenue of $368.66 million for the quarter, compared to the consensus estimate of $351.75 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. Equities analysts forecast that Fox Factory will post 1.41 earnings per share for the current fiscal year.

About Fox Factory

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.