B. Riley Trims Fox Factory (NASDAQ:FOXF) Target Price to $45.00

Fox Factory (NASDAQ:FOXF) had its target price reduced by research analysts at B. Riley from $50.00 to $45.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price target points to a potential upside of 3.40% from the company’s current price. B. Riley also issued estimates for Fox Factory’s FY2024 earnings at $2.32 EPS.

A number of other equities analysts also recently weighed in on FOXF. Stifel Nicolaus dropped their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Roth Mkm dropped their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Friday. Bank of America downgraded Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, February 23rd. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.00.

Fox Factory Stock Up 10.4 %

Shares of Fox Factory stock opened at $43.52 on Friday. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. Fox Factory has a 1 year low of $37.98 and a 1 year high of $117.68. The stock has a 50-day moving average price of $46.45 and a 200 day moving average price of $59.53. The company has a market cap of $1.83 billion, a P/E ratio of 24.31, a P/E/G ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.50%. The business had revenue of $333.50 million during the quarter, compared to analyst estimates of $327.58 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue was down 16.6% compared to the same quarter last year. As a group, analysts expect that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Trading of Fox Factory

Several large investors have recently modified their holdings of the company. FirstPurpose Wealth LLC grew its position in shares of Fox Factory by 6.7% in the third quarter. FirstPurpose Wealth LLC now owns 2,907 shares of the company’s stock valued at $288,000 after purchasing an additional 183 shares during the last quarter. Mariner LLC grew its holdings in Fox Factory by 5.1% in the 3rd quarter. Mariner LLC now owns 4,491 shares of the company’s stock valued at $445,000 after buying an additional 216 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Fox Factory by 11.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,167 shares of the company’s stock worth $215,000 after buying an additional 217 shares during the period. CWM LLC lifted its holdings in shares of Fox Factory by 54.1% during the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Fox Factory by 8.1% during the third quarter. Inspire Investing LLC now owns 3,111 shares of the company’s stock worth $308,000 after buying an additional 234 shares during the last quarter.

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.