Fox Factory (NASDAQ:FOXF) Price Target Cut to $48.00

Fox Factory (NASDAQ:FOXF) had its price target trimmed by Robert W. Baird from $55.00 to $48.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Truist Financial cut their price target on shares of Fox Factory from $90.00 to $60.00 and set a buy rating on the stock in a report on Friday, February 23rd. Stifel Nicolaus reduced their price target on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. StockNews.com cut Fox Factory from a hold rating to a sell rating in a research note on Monday, February 26th. Finally, Bank of America lowered Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Fox Factory has a consensus rating of Hold and an average price target of $46.83.

Fox Factory Trading Up 1.8 %

Shares of FOXF stock opened at $44.31 on Friday. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The stock’s fifty day simple moving average is $46.36 and its 200 day simple moving average is $58.99. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.86 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, sell-side analysts predict that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Several hedge funds have recently modified their holdings of FOXF. GAMMA Investing LLC acquired a new stake in Fox Factory in the fourth quarter worth $29,000. Quest Partners LLC bought a new position in shares of Fox Factory during the 4th quarter worth about $31,000. Operose Advisors LLC acquired a new stake in shares of Fox Factory in the 3rd quarter valued at about $37,000. Assetmark Inc. increased its position in Fox Factory by 171.4% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after buying an additional 240 shares in the last quarter. Finally, CWM LLC raised its stake in 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.