Fox Factory (NASDAQ:FOXF) Stock Price Up 8.2% – Should You Buy?

Fox Factory Holding Corp. (NASDAQ:FOXF) shares were up 8.2% during trading on Wednesday . The company traded as high as $18.04 and last traded at $18.0790. Approximately 201,284 shares traded hands during trading, a decline of 67% from the average daily volume of 615,839 shares. The stock had previously closed at $16.71.

Analyst Ratings Changes

A number of analysts recently commented on FOXF shares. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research note on Thursday, April 16th. Roth Mkm reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. Zacks Research lowered Fox Factory from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings lowered Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and an average price target of $25.33.

Fox Factory Trading Up 7.8%

The business has a 50 day simple moving average of $16.90 and a 200-day simple moving average of $17.24. The company has a current ratio of 2.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $755.38 million, a price-to-earnings ratio of -2.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The firm had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.76 million. During the same period last year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Fox Factory Holding Corp. will post 1.41 earnings per share for the current year.

Hedge Funds Weigh In On Fox Factory

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC raised its holdings in shares of Fox Factory by 93.8% in the 1st quarter. Empowered Funds LLC now owns 372,186 shares of the company’s stock worth $6,126,000 after purchasing an additional 180,168 shares during the period. Engine Capital Management LP raised its holdings in shares of Fox Factory by 162.3% in the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock worth $33,352,000 after purchasing an additional 1,253,808 shares during the period. Estuary Capital Management LP raised its holdings in shares of Fox Factory by 15.3% in the 1st quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock worth $29,879,000 after purchasing an additional 240,512 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Fox Factory by 216.8% in the 1st quarter. Quantinno Capital Management LP now owns 163,635 shares of the company’s stock worth $2,693,000 after purchasing an additional 111,976 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Fox Factory by 103.4% in the 1st quarter. Sei Investments Co. now owns 213,103 shares of the company’s stock worth $3,508,000 after purchasing an additional 108,321 shares during the period.

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.