Jefferies Financial Group Cuts Fox Factory (NASDAQ:FOXF) Price Target to $38.00

Fox Factory (NASDAQ:FOXF) had its price objective reduced by equities researchers at Jefferies Financial Group from $45.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 37.04% from the stock’s current price.

FOXF has been the topic of a number of other research reports. Roth Mkm decreased their target price on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Robert W. Baird decreased their target price on Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial cut their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.14.

Fox Factory Stock Performance

Shares of NASDAQ FOXF traded up $2.25 during trading on Friday, reaching $27.73. 1,432,909 shares of the stock traded hands, compared to its average volume of 501,453. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The stock has a market capitalization of $1.16 billion, a P/E ratio of 106.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. Fox Factory has a 52-week low of $25.17 and a 52-week high of $54.85. The company has a 50-day moving average of $27.88 and a 200-day moving average of $33.83.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $352.84 million for the quarter, compared to analysts’ expectations of $321.31 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. Analysts forecast that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN purchased a new position in Fox Factory in the 3rd quarter worth $5,743,000. Caprock Group LLC grew its stake in shares of Fox Factory by 133.7% during the fourth quarter. Caprock Group LLC now owns 22,396 shares of the company’s stock valued at $678,000 after buying an additional 12,813 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Fox Factory by 89.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock valued at $2,844,000 after buying an additional 32,263 shares during the period. Angeles Wealth Management LLC bought a new stake in Fox Factory in the 4th quarter worth $1,710,000. Finally, JPMorgan Chase & Co. increased its position in shares of Fox Factory by 271.6% in the third quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after acquiring an additional 139,512 shares during the period.

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.