StockNews.com Upgrades Fox Factory (NASDAQ:FOXF) to “Hold”

Fox Factory (NASDAQ:FOXF) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities analysts also recently weighed in on the company. Roth Mkm dropped their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Bank of America dropped their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Robert W. Baird decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Truist Financial dropped their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, B. Riley reduced their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Fox Factory Trading Up 0.6 %

NASDAQ:FOXF opened at $32.48 on Thursday. Fox Factory has a 1 year low of $30.92 and a 1 year high of $70.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $42.11. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 124.92, a PEG ratio of 2.63 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts anticipate that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. Signaturefd LLC boosted its position in shares of Fox Factory by 301.1% in the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after acquiring an additional 545 shares during the last quarter. nVerses Capital LLC purchased a new stake in Fox Factory in the third quarter valued at approximately $42,000. Fifth Third Bancorp increased its position in Fox Factory by 26.5% during the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after purchasing an additional 261 shares during the last quarter. Finally, KBC Group NV raised its stake in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares during the period.

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.