Fox Factory (NASDAQ:FOXF) Price Target Cut to $45.00

Fox Factory (NASDAQ:FOXF) had its price target cut by Stifel Nicolaus from $56.00 to $45.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Truist Financial lowered their target price on shares of Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a report on Friday, February 23rd. Finally, Bank of America cut shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 target price for the company. in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $66.00.

Fox Factory Trading Up 2.7 %

NASDAQ FOXF opened at $40.45 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. Fox Factory has a 52 week low of $38.80 and a 52 week high of $117.68. The stock has a market capitalization of $1.70 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.64. The firm has a 50 day moving average of $49.17 and a two-hundred day moving average of $62.00.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.34). Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The firm had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. During the same quarter last year, the firm earned $1.43 EPS. The company’s revenue was down 18.6% on a year-over-year basis. As a group, research analysts expect that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Institutional investors and hedge funds have recently bought and sold shares of the business. Zions Bancorporation N.A. raised its position in Fox Factory by 8.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company’s stock valued at $1,243,000 after purchasing an additional 991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Fox Factory by 0.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after buying an additional 33,703 shares during the last quarter. CVA Family Office LLC purchased a new position in Fox Factory during the 4th quarter worth $55,000. Brookstone Capital Management raised its position in Fox Factory by 29.6% during the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock worth $434,000 after buying an additional 1,472 shares during the last quarter. Finally, VELA Investment Management LLC raised its position in Fox Factory by 56.6% during the 4th quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock worth $1,235,000 after buying an additional 6,613 shares during 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.