Fox Factory (NASDAQ:FOXF) Upgraded at Zacks Research

Zacks Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Roth Mkm dropped their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a report on Thursday, January 22nd. Finally, CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus price target of $28.60.

Fox Factory Stock Performance

NASDAQ FOXF opened at $16.31 on Thursday. The company has a market cap of $681.77 million, a P/E ratio of -1.25 and a beta of 1.50. The company has a fifty day simple moving average of $18.61 and a 200 day simple moving average of $20.69. The company has a current ratio of 2.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.96. Fox Factory has a 12-month low of $13.08 and a 12-month high of $31.18.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $361.07 million for the quarter, compared to the consensus estimate of $353.88 million. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. Sell-side analysts predict that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of institutional investors have recently added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in Fox Factory in the 3rd quarter valued at about $25,000. Federated Hermes Inc. bought a new position in shares of Fox Factory in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its holdings in shares of Fox Factory by 188.1% in the fourth quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock valued at $35,000 after acquiring an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Fox Factory by 108.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Fox Factory by 693.3% during the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after acquiring an additional 2,572 shares during the period.

About Fox Factory

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.