Truist Financial Lowers Fox Factory (NASDAQ:FOXF) Price Target to $24.00

Fox Factory (NASDAQ:FOXF) had its price objective cut by Truist Financial from $40.00 to $24.00 in a research report report published on Monday morning, MarketBeat reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Robert W. Baird lowered their price target on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Stifel Nicolaus dropped their price target on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Jefferies Financial Group reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.00.

Fox Factory Trading Down 1.4 %

Shares of Fox Factory stock opened at $19.25 on Monday. Fox Factory has a twelve month low of $17.95 and a twelve month high of $54.86. The firm’s 50-day moving average price is $24.31 and its 200 day moving average price is $29.77. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $802.96 million, a PE ratio of 74.04, a P/E/G ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. On average, sell-side analysts predict that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Several institutional investors have recently made changes to their positions in FOXF. Raymond James Financial Inc. acquired a new stake in Fox Factory during the fourth quarter worth $2,543,000. Advantage Alpha Capital Partners LP raised its holdings in Fox Factory by 30.8% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 68,221 shares of the company’s stock valued at $2,065,000 after buying an additional 16,081 shares during the period. Caprock Group LLC lifted its position in Fox Factory by 133.7% in 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. Mutual of America Capital Management LLC lifted its position in Fox Factory by 1,569.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 104,657 shares of the company’s stock valued at $3,168,000 after buying an additional 98,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Fox Factory by 13.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,745 shares of the company’s stock worth $18,850,000 after buying an additional 73,110 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.