Fox Factory (NASDAQ:FOXF) Upgraded at Stifel Nicolaus

Fox Factory (NASDAQ:FOXF) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a $40.00 target price on the stock. Stifel Nicolaus’ price target points to a potential upside of 26.14% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FOXF. Robert W. Baird dropped their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Bank of America dropped their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Roth Mkm decreased their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Truist Financial cut their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.67.

Fox Factory Stock Performance

NASDAQ:FOXF opened at $31.71 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The firm’s 50-day moving average is $35.46 and its 200-day moving average is $41.21. Fox Factory has a 52-week low of $30.13 and a 52-week high of $70.13. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 121.97, a PEG ratio of 2.50 and a beta of 1.60.

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

Institutional Trading of Fox Factory

Several large investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. lifted its position in Fox Factory by 25.2% during the 2nd 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 in the last quarter. Victory Capital Management Inc. raised its stake in shares of Fox Factory by 223.3% in the second quarter. Victory Capital Management Inc. now owns 42,119 shares of the company’s stock worth $2,030,000 after acquiring an additional 29,092 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Fox Factory by 89.0% during the third quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock worth $2,844,000 after purchasing an additional 32,263 shares in the last quarter. Disciplined Growth Investors Inc. MN bought a new stake in shares of Fox Factory during the third quarter valued at approximately $5,743,000. Finally, Van Berkom & Associates Inc. increased its holdings in shares of Fox Factory by 1.5% in the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock valued at $44,019,000 after purchasing an additional 13,936 shares in the last quarter.

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.