Fox Factory (NASDAQ:FOXF) Given New $24.00 Price Target at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price target decreased by Truist Financial from $40.00 to $24.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on FOXF. Jefferies Financial Group reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus reduced their price target on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird decreased their price target on Fox Factory from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Fox Factory currently has an average rating of “Hold” and an average target price of $35.00.

Fox Factory Trading Down 1.0 %

Shares of NASDAQ FOXF opened at $19.62 on Monday. The stock has a market capitalization of $818.39 million, a P/E ratio of 75.46, a PEG ratio of 1.45 and a beta of 1.56. The stock’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $29.92. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory has a 52-week low of $17.95 and a 52-week high of $54.86.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $352.84 million for the quarter, compared to analyst estimates of $321.31 million. On average, analysts anticipate that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock valued at $32,000 after buying an additional 807 shares in the last quarter. Quarry LP purchased a new position in Fox Factory in the 4th quarter worth about $45,000. KBC Group NV raised its holdings in Fox Factory by 80.4% during the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock worth $75,000 after buying an additional 1,107 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Fox Factory during the fourth quarter valued at about $143,000. Finally, Parallel Advisors LLC increased its position in shares of Fox Factory by 102.4% in the first quarter. Parallel Advisors LLC now owns 5,146 shares of the company’s stock worth $120,000 after acquiring an additional 2,604 shares in 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.