Fox Factory (NASDAQ:FOXF) PT Lowered to $45.00

Fox Factory (NASDAQ:FOXF) had its price target cut by equities research analysts at B. Riley from $50.00 to $45.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 3.40% from the company’s current price. B. Riley also issued estimates for Fox Factory’s FY2024 earnings at $2.32 EPS.

Several other research firms have also recently issued reports on FOXF. StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Stifel Nicolaus lowered their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Friday, February 23rd. Robert W. Baird dropped their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Roth Mkm cut their price objective on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday. One investment 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’s stock. According to MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and an average target price of $48.00.

Fox Factory Stock Up 10.4 %

FOXF stock opened at $43.52 on Friday. Fox Factory has a one year low of $37.98 and a one year high of $117.68. The stock has a market capitalization of $1.83 billion, a P/E ratio of 24.31, a PEG ratio of 3.66 and a beta of 1.68. The company has a 50 day moving average price of $46.45 and a two-hundred day moving average price of $59.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. The business had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same quarter in the previous year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, sell-side analysts expect that Fox Factory will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation N.A. raised its holdings in shares of Fox Factory by 8.6% during the 3rd quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company’s stock valued at $1,243,000 after buying an additional 991 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Fox Factory by 0.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after purchasing an additional 33,703 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Fox Factory in the fourth quarter valued at $55,000. VELA Investment Management LLC grew its holdings in Fox Factory by 56.6% during the 4th quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock valued at $1,235,000 after purchasing an additional 6,613 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in Fox Factory by 29.6% during the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock worth $434,000 after buying an additional 1,472 shares during the period.

Fox Factory Company Profile

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.