Roth Mkm Has Lowered Expectations for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXF) had its target price decreased by equities researchers at Roth Mkm from $45.00 to $36.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 5.82% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. B. Riley dropped their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial dropped their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. Bank of America reduced their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Robert W. Baird cut their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Trading Down 5.5 %

Shares of NASDAQ:FOXF opened at $34.02 on Friday. The business has a 50 day moving average of $39.47 and a 200-day moving average of $43.25. The stock has a market cap of $1.42 billion, a PE ratio of 130.85, a P/E/G ratio of 2.45 and a beta of 1.65. Fox Factory has a 12-month low of $31.19 and a 12-month high of $86.14. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.22%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. As a group, equities research analysts forecast that Fox Factory will post 1.56 earnings per share for the current year.

Insider Activity

In related news, CEO Michael C. Dennison acquired 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $41.44 per share, with a total value of $198,912.00. Following the purchase, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Fox Factory

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after buying an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Fox Factory in the second quarter worth $53,294,000. Vanguard Group Inc. increased its holdings in Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares during the period. D. E. Shaw & Co. Inc. raised its position in Fox Factory by 25.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Fox Factory by 173.7% during the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock worth $9,470,000 after buying an additional 115,432 shares during the period.

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.