Stifel Nicolaus Lowers Fox Factory (NASDAQ:FOXF) Price Target to $45.00

Fox Factory (NASDAQ:FOXF) had its price objective cut by stock analysts at Stifel Nicolaus from $56.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 14.30% from the company’s current price.

Other research analysts have also recently issued reports about the company. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Truist Financial reduced their target price on Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, Bank of America cut Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fox Factory presently has a consensus rating of “Hold” and a consensus price target of $66.00.

Fox Factory Trading Down 1.3 %

Shares of FOXF stock opened at $39.37 on Wednesday. Fox Factory has a 12 month low of $38.80 and a 12 month high of $117.68. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $49.75 and its two-hundred day moving average is $62.16. The company has a market cap of $1.65 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 3.36 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.34). Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The company had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. During the same quarter last year, the business earned $1.43 EPS. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. Equities analysts predict that Fox Factory will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXF. Operose Advisors LLC bought a new position in shares of Fox Factory in the third quarter valued at about $37,000. Assetmark Inc. raised its holdings in shares of Fox Factory by 171.4% in the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after buying an additional 240 shares during the last quarter. Quest Partners LLC bought a new position in shares of Fox Factory in the fourth quarter valued at about $31,000. GAMMA Investing LLC acquired a new position in shares of Fox Factory during the 4th quarter worth about $29,000. Finally, CWM LLC grew its position in shares of Fox Factory by 54.1% during the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 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.