Fox Factory (FOXF) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Fox Factory (NASDAQ:FOXF) from a sell rating to a strong sell rating in a report published on Thursday morning.

FOXF has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Fox Factory from a buy rating to a hold rating in a report on Friday, October 20th. Stifel Nicolaus reaffirmed a hold rating and issued a $44.00 target price on shares of Fox Factory in a research note on Sunday, December 3rd. ValuEngine downgraded shares of Fox Factory from a buy rating to a hold rating in a research note on Friday, December 1st. Bank of America raised their target price on shares of Fox Factory from $42.00 to $45.00 and gave the company a neutral rating in a research note on Tuesday, October 24th. Finally, SunTrust Banks reaffirmed a hold rating and issued a $36.00 target price on shares of Fox Factory in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $39.00.

Shares of Fox Factory (NASDAQ FOXF) traded up $0.60 during trading on Thursday, hitting $39.45. 160,100 shares of the stock were exchanged, compared to its average volume of 233,644. Fox Factory has a 52-week low of $25.25 and a 52-week high of $46.80. The stock has a market capitalization of $1,480.00, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.48.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The firm had revenue of $127.40 million for the quarter, compared to the consensus estimate of $123.02 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. equities research analysts expect that Fox Factory will post 1.53 EPS for the current year.

In related news, CFO Zvi Glasman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $39.72, for a total value of $595,800.00. Following the sale, the chief financial officer now directly owns 64,100 shares of the company’s stock, valued at $2,546,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Larry L. Enterline sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the completion of the sale, the chief executive officer now directly owns 124,934 shares in the company, valued at $4,757,486.72. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $3,845,500 over the last ninety days. 21.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its position in Fox Factory by 76.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after acquiring an additional 1,332 shares during the last quarter. SG Americas Securities LLC bought a new position in Fox Factory during the second quarter valued at approximately $111,000. Pinebridge Investments L.P. grew its position in Fox Factory by 20.5% during the second quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after acquiring an additional 778 shares during the last quarter. Victory Capital Management Inc. grew its position in Fox Factory by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,883 shares of the company’s stock valued at $209,000 after acquiring an additional 880 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Fox Factory during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 97.78% of the company’s stock.

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About Fox Factory

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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