Fox Factory Holding Corp. (NASDAQ:FOXF) Given Consensus Rating of “Hold” by Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $46.17.

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. B. Riley dropped their price objective 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. Truist Financial cut their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America decreased their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th.

Insider Activity at Fox Factory

In other news, CEO Michael C. Dennison purchased 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds have recently bought and sold shares of FOXF. Quest Partners LLC acquired a new position in shares of Fox Factory during the 4th quarter worth approximately $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Fox Factory in the first quarter valued at about $42,000. TFO Wealth Partners LLC increased its stake in shares of Fox Factory by 14,180.0% during the fourth quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after purchasing an additional 709 shares in the last quarter. Fifth Third Bancorp lifted its stake in Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after buying an additional 261 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Fox Factory by 31.8% in the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after buying an additional 366 shares during the last quarter.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $41.81 on Friday. Fox Factory has a fifty-two week low of $34.56 and a fifty-two week high of $100.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The company has a market cap of $1.74 billion, a PE ratio of 23.36, a P/E/G ratio of 2.92 and a beta of 1.63. The business has a 50-day simple moving average of $42.01 and a two-hundred day simple moving average of $44.77.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $348.49 million for the quarter, compared to the consensus estimate of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. Fox Factory’s revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. As a group, equities analysts expect that Fox Factory will post 1.56 EPS for the current fiscal year.

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.