Fox Factory (NASDAQ:FOXF) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fox Factory (NASDAQ:FOXFGet Rating) from a hold rating to a buy rating in a research report report published on Monday morning, Zacks.com reports. They currently have $91.00 target price on the stock.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

A number of other brokerages have also commented on FOXF. Truist Financial cut their price target on Fox Factory from $200.00 to $175.00 in a research note on Monday, February 28th. TheStreet lowered Fox Factory from a b rating to a c+ rating in a research note on Thursday, March 10th. Finally, StockNews.com assumed coverage on Fox Factory in a research note on Thursday, March 31st. They issued a hold rating on the stock.

Fox Factory stock opened at $77.02 on Monday. Fox Factory has a 12-month low of $76.01 and a 12-month high of $190.29. The company has a quick ratio of 1.94, a current ratio of 3.15 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $95.29 and its two-hundred day moving average price is $134.45. The stock has a market cap of $3.25 billion, a PE ratio of 18.79, a P/E/G ratio of 0.82 and a beta of 1.80.

Fox Factory (NASDAQ:FOXFGet Rating) last released its earnings results on Thursday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. Fox Factory had a return on equity of 23.79% and a net margin of 12.46%. The firm had revenue of $377.98 million for the quarter, compared to analysts’ expectations of $335.60 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. As a group, analysts expect that Fox Factory will post 5.2 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of FOXF. FMR LLC lifted its stake in Fox Factory by 20.6% in the first quarter. FMR LLC now owns 533,779 shares of the company’s stock valued at $37,306,000 after buying an additional 91,213 shares during the period. Morgan Stanley lifted its stake in Fox Factory by 9.9% in the second quarter. Morgan Stanley now owns 121,660 shares of the company’s stock valued at $18,937,000 after buying an additional 10,936 shares during the period. Advisor Group Holdings Inc. lifted its stake in Fox Factory by 11.5% in the third quarter. Advisor Group Holdings Inc. now owns 5,074 shares of the company’s stock valued at $734,000 after buying an additional 525 shares during the period. Swiss National Bank lifted its stake in Fox Factory by 0.7% in the third quarter. Swiss National Bank now owns 92,700 shares of the company’s stock valued at $13,399,000 after buying an additional 600 shares during the period. Finally, Synovus Financial Corp lifted its stake in Fox Factory by 40.1% in the third quarter. Synovus Financial Corp now owns 5,030 shares of the company’s stock valued at $719,000 after buying an additional 1,440 shares during the period. 99.49% of the stock is currently owned by institutional investors.

Fox Factory Company Profile (Get Rating)

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

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