Fox Factory (FOXF) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $39.00 price objective on the stock.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

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Several other research firms have also commented on FOXF. BidaskClub lowered shares of Fox Factory from a sell rating to a strong sell rating in a report on Monday, February 5th. DA Davidson upgraded shares of Fox Factory from a neutral rating to a buy rating in a report on Thursday, February 8th. ValuEngine lowered shares of Fox Factory from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus reiterated a hold rating and set a $44.00 price objective on shares of Fox Factory in a research note on Sunday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Fox Factory presently has a consensus rating of Hold and an average price target of $39.67.

NASDAQ:FOXF opened at $34.90 on Tuesday. Fox Factory has a one year low of $26.40 and a one year high of $46.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.37. The stock has a market capitalization of $1,314.20, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.87 and a beta of 0.57.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Fox Factory had a net margin of 9.07% and a return on equity of 27.95%. The business had revenue of $121.09 million during the quarter, compared to analyst estimates of $118.84 million. research analysts forecast that Fox Factory will post 1.78 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank bought a new position in shares of Fox Factory during the 3rd quarter worth approximately $209,000. Polen Capital Management LLC bought a new position in shares of Fox Factory during the 3rd quarter worth approximately $225,000. Aperio Group LLC bought a new position in shares of Fox Factory during the 3rd quarter worth approximately $237,000. Invictus RG raised its stake in shares of Fox Factory by 2,971.7% during the 3rd quarter. Invictus RG now owns 5,744 shares of the company’s stock worth $248,000 after acquiring an additional 5,557 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of Fox Factory during the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

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Fox Factory Company Profile

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

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