Bank of America Lowers Fox Factory (NASDAQ:FOXF) Price Target to $48.00

Fox Factory (NASDAQ:FOXF) had its target price reduced by Bank of America from $55.00 to $48.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently issued reports on FOXF. StockNews.com cut shares of Fox Factory from a hold rating to a sell rating in a research note on Monday, February 26th. B. Riley lowered their price objective on shares of Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research report on Friday. Robert W. Baird cut their target price on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research report on Friday. Truist Financial decreased their target price on shares of Fox Factory from $60.00 to $50.00 and set a buy rating for the company in a research note on Friday. Finally, Stifel Nicolaus dropped their price target on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $46.83.

Fox Factory Trading Up 1.8 %

Shares of NASDAQ FOXF opened at $44.31 on Monday. The company has a market cap of $1.86 billion, a PE ratio of 24.75, a P/E/G ratio of 3.66 and a beta of 1.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. The firm’s 50 day moving average price is $46.36 and its 200-day moving average price is $58.99. Fox Factory has a 52-week low of $37.98 and a 52-week high of $117.68.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The business had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. On average, equities research analysts expect that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FOXF. SG Americas Securities LLC purchased a new stake in shares of Fox Factory in the 1st quarter worth $612,000. Quantbot Technologies LP lifted its position in Fox Factory by 13.4% during the first quarter. Quantbot Technologies LP now owns 23,904 shares of the company’s stock valued at $1,245,000 after purchasing an additional 2,824 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Fox Factory by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 37,006 shares of the company’s stock valued at $1,927,000 after purchasing an additional 395 shares during the period. FORA Capital LLC purchased a new stake in Fox Factory in the first quarter worth about $688,000. Finally, Fifth Lane Capital LP bought a new position in shares of Fox Factory in the first quarter worth about $381,000.

Fox Factory Company Profile

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.