Analysts Set Fox Factory Holding Corp. (NASDAQ:FOXF) Price Target at $25.33

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $25.3333.

Several research firms have commented on FOXF. Weiss Ratings lowered shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Stifel Nicolaus set a $24.00 price objective on shares of Fox Factory in a research note on Thursday, April 16th. Roth Mkm reiterated a “neutral” rating and issued a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RWWM Inc. increased its stake in Fox Factory by 4.7% in the 1st quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock valued at $91,074,000 after buying an additional 247,635 shares during the last quarter. Nantahala Capital Management LLC grew its position in shares of Fox Factory by 200.3% during the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock valued at $37,442,000 after acquiring an additional 1,459,652 shares during the period. Engine Capital Management LP grew its position in shares of Fox Factory by 162.3% during the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after acquiring an additional 1,253,808 shares during the period. Estuary Capital Management LP grew its position in shares of Fox Factory by 15.3% during the 1st quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock valued at $29,879,000 after acquiring an additional 240,512 shares during the period. Finally, State Street Corp grew its position in shares of Fox Factory by 1.4% during the 4th quarter. State Street Corp now owns 1,620,544 shares of the company’s stock valued at $27,728,000 after acquiring an additional 21,914 shares during the period.

Fox Factory Trading Up 3.7%

FOXF opened at $18.83 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. Fox Factory has a fifty-two week low of $13.08 and a fifty-two week high of $31.18. The firm has a market capitalization of $789.73 million, a PE ratio of -2.63, a P/E/G ratio of 0.64 and a beta of 1.37. The company’s 50-day moving average is $17.00 and its 200 day moving average is $17.23.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.09 by $0.09. The firm had revenue of $368.66 million during the quarter, compared to analyst estimates of $351.76 million. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, research analysts predict that Fox Factory will post 1.41 earnings per share for the current fiscal year.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.