Fox Factory (NASDAQ:FOXF) Trading Up 7.6%

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price was up 7.6% during mid-day trading on Thursday . The company traded as high as $42.74 and last traded at $42.66. Approximately 198,730 shares traded hands during trading, a decline of 66% from the average daily volume of 592,905 shares. The stock had previously closed at $39.63.

Analysts Set New Price Targets

A number of analysts have issued reports on FOXF shares. B. Riley cut their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial lowered their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.17.

Fox Factory Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. The stock has a 50 day simple moving average of $42.74 and a two-hundred day simple moving average of $45.11. The company has a market cap of $1.79 billion, a PE ratio of 24.03, a PEG ratio of 2.48 and a beta of 1.63.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The company had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. Equities analysts predict that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

Insider Transactions at Fox Factory

In related news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Norden Group LLC raised its position in Fox Factory by 3,378.1% in the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after acquiring an additional 278,185 shares in the last quarter. Sei Investments Co. raised its position in Fox Factory by 6.9% in the first quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock worth $11,621,000 after acquiring an additional 14,328 shares in the last quarter. Vanguard Group Inc. grew its holdings in Fox Factory by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after purchasing an additional 46,132 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in Fox Factory in the second quarter valued at $626,000. Finally, SG Americas Securities LLC acquired a new stake in Fox Factory in the first quarter valued at $612,000.

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.