Other analysts also recently issued reports about the stock. Jefferies Financial Group boosted their price target on shares of Fox Factory from $60.00 to $65.00 and gave the stock a buy rating in a research report on Thursday, May 7th. TheStreet cut Fox Factory from a b- rating to a c+ rating in a report on Wednesday, April 1st. Zacks Investment Research lowered Fox Factory from a buy rating to a hold rating in a research note on Friday, June 19th. CJS Securities downgraded Fox Factory from an outperform rating to a market perform rating in a research note on Tuesday, June 16th. Finally, Berenberg Bank cut Fox Factory from a buy rating to a hold rating in a research note on Tuesday, May 19th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $76.25.
FOXF opened at $89.00 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.84 and a quick ratio of 1.71. Fox Factory has a 12 month low of $34.58 and a 12 month high of $94.38. The stock’s 50 day moving average price is $83.32 and its 200 day moving average price is $65.74. The stock has a market cap of $3.68 billion, a P/E ratio of 41.78, a P/E/G ratio of 3.62 and a beta of 1.78.
Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $184.40 million for the quarter, compared to analyst estimates of $180.72 million. Fox Factory had a net margin of 10.75% and a return on equity of 26.03%. Fox Factory’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. Equities analysts anticipate that Fox Factory will post 2.01 EPS for the current year.
In other news, insider Wesley E. Allinger sold 6,265 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $71.61, for a total transaction of $448,636.65. Following the completion of the sale, the insider now owns 42,169 shares in the company, valued at approximately $3,019,722.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Advisors Asset Management Inc. increased its stake in Fox Factory by 254.4% in the 4th quarter. Advisors Asset Management Inc. now owns 443 shares of the company’s stock worth $31,000 after purchasing an additional 318 shares in the last quarter. Strs Ohio boosted its holdings in shares of Fox Factory by 68.8% in the first quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $113,000 after buying an additional 1,100 shares during the period. C M Bidwell & Associates Ltd. increased its position in shares of Fox Factory by 115.3% in the first quarter. C M Bidwell & Associates Ltd. now owns 2,708 shares of the company’s stock worth $114,000 after acquiring an additional 1,450 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Fox Factory during the first quarter valued at approximately $129,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fox Factory by 48.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the company’s stock valued at $143,000 after acquiring an additional 1,112 shares in the last quarter.
About Fox Factory
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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