Fox Factory (NASDAQ:FOXF) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Several other equities research analysts also recently weighed in on FOXF. Zacks Investment Research raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, February 28th. ValuEngine raised shares of Fox Factory from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 13th. Finally, Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating in a research note on Friday, November 23rd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.83.
Shares of FOXF stock opened at $66.43 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. Fox Factory has a one year low of $33.20 and a one year high of $76.77. The company has a market capitalization of $2.56 billion, a PE ratio of 29.92, a P/E/G ratio of 1.77 and a beta of 1.11.
Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Fox Factory had a net margin of 13.57% and a return on equity of 30.19%. The firm had revenue of $156.81 million for the quarter, compared to analyst estimates of $156.79 million. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. Equities analysts expect that Fox Factory will post 2.52 earnings per share for the current year.
In related news, CEO Larry L. Enterline sold 177,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $63.98, for a total transaction of $11,324,460.00. Following the sale, the chief executive officer now directly owns 95,335 shares of the company’s stock, valued at approximately $6,099,533.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zvi Glasman sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the sale, the chief financial officer now directly owns 30,511 shares in the company, valued at $1,983,215. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,395 shares of company stock worth $12,398,421. 5.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of Fox Factory by 751.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 647 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Fox Factory in the 4th quarter valued at approximately $75,000. Quantamental Technologies LLC purchased a new stake in shares of Fox Factory in the 4th quarter valued at approximately $77,000. Meeder Asset Management Inc. purchased a new stake in shares of Fox Factory in the 4th quarter valued at approximately $118,000. Finally, Bank of Montreal Can increased its position in shares of Fox Factory by 17.3% in the 4th quarter. Bank of Montreal Can now owns 2,054 shares of the company’s stock valued at $121,000 after purchasing an additional 303 shares during the last quarter. 99.14% of the stock is currently owned by hedge funds and other institutional investors.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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