Fox Factory Holding Corp. (NASDAQ:FOXF) Given Average Recommendation of “Hold” by Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.50.

Several research analysts recently issued reports on FOXF shares. Roth Mkm dropped their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial cut their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Robert W. Baird dropped their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Bank of America cut their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd.

Fox Factory Stock Performance

Fox Factory stock opened at $32.17 on Monday. Fox Factory has a 1-year low of $31.19 and a 1-year high of $70.13. The company’s 50-day moving average is $38.29 and its 200 day moving average is $42.85. The firm has a market capitalization of $1.34 billion, a P/E ratio of 123.74, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Research analysts forecast that Fox Factory will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. Pacer Advisors Inc. boosted its holdings in Fox Factory by 25,005.1% in the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after acquiring an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Fox Factory during the 2nd quarter worth approximately $53,294,000. Vanguard Group Inc. increased its stake in Fox Factory by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares in the last quarter. Disciplined Growth Investors Inc. MN purchased a new position in shares of Fox Factory in the third quarter worth $5,743,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Fox Factory by 25.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after buying an additional 135,542 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.