Jefferies Financial Group Issues Pessimistic Forecast for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXF) had its price target lowered by equities researchers at Jefferies Financial Group from $45.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 37.04% from the company’s previous close.

Several other research analysts have also weighed in on FOXF. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Truist Financial dropped their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Roth Mkm dropped their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Robert W. Baird dropped their price target on Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.14.

Fox Factory Trading Up 8.8 %

Shares of NASDAQ FOXF opened at $27.73 on Friday. Fox Factory has a 12 month low of $25.17 and a 12 month high of $54.85. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 106.66, a P/E/G ratio of 1.45 and a beta of 1.58. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $27.84 and a 200-day simple moving average of $33.70.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. Sell-side analysts predict that Fox Factory will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Fox Factory by 2.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,571 shares of the company’s stock valued at $1,476,000 after acquiring an additional 941 shares during the last quarter. US Bancorp DE increased its holdings in shares of Fox Factory by 2.6% during the 3rd quarter. US Bancorp DE now owns 42,844 shares of the company’s stock valued at $1,778,000 after acquiring an additional 1,099 shares during the last quarter. D.B. Root & Company LLC increased its holdings in shares of Fox Factory by 24.7% during the 3rd quarter. D.B. Root & Company LLC now owns 6,060 shares of the company’s stock valued at $251,000 after acquiring an additional 1,199 shares during the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Fox Factory by 28.5% during the 3rd quarter. Malaga Cove Capital LLC now owns 12,050 shares of the company’s stock valued at $500,000 after acquiring an additional 2,671 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Fox Factory by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 42,891 shares of the company’s stock valued at $1,780,000 after acquiring an additional 772 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.