Fox Factory (NASDAQ:FOXF) Price Target Raised to $34.00

Fox Factory (NASDAQ:FOXF) had its price target upped by Truist Financial from $28.00 to $34.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on FOXF. Robert W. Baird lowered 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. Jefferies Financial Group lowered their price target on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Stifel Nicolaus lowered their price target on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.43.

Fox Factory Trading Up 1.0%

NASDAQ:FOXF opened at $26.04 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. Fox Factory has a fifty-two week low of $17.95 and a fifty-two week high of $54.86. The stock’s 50-day moving average is $22.42 and its two-hundred day moving average is $27.13. The stock has a market cap of $1.09 billion, a PE ratio of 100.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.54.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company had revenue of $355.03 million for the quarter, compared to analysts’ expectations of $330.71 million. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Fox Factory by 76.2% in the 1st quarter. CWM LLC now owns 1,341 shares of the company’s stock worth $31,000 after purchasing an additional 580 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock worth $32,000 after purchasing an additional 807 shares during the last quarter. Quarry LP acquired a new stake in Fox Factory in the 4th quarter worth approximately $45,000. GAMMA Investing LLC lifted its holdings in Fox Factory by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company’s stock worth $40,000 after purchasing an additional 1,217 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 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.