Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $40.67 Consensus Target Price from Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.67.

A number of research analysts have recently commented on the company. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, December 11th. Roth Mkm dropped their target price on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Truist Financial dropped their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Fox Factory Trading Up 2.4 %

Shares of NASDAQ FOXF opened at $30.39 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 116.88, a PEG ratio of 2.67 and a beta of 1.60. The business’s 50 day moving average is $34.79 and its two-hundred day moving average is $40.83. Fox Factory has a 1-year low of $28.93 and a 1-year high of $70.13. 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 (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. As a group, research analysts expect that Fox Factory will post 1.31 EPS for the current year.

Institutional Trading of Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Fox Factory by 0.4% during the 3rd quarter. State Street Corp now owns 1,596,222 shares of the company’s stock valued at $66,243,000 after purchasing an additional 6,308 shares during the last quarter. Pacer Advisors Inc. raised its stake 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 worth $76,388,000 after acquiring an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Fox Factory in the 2nd quarter worth $53,294,000. Geode Capital Management LLC raised its stake in Fox Factory by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock worth $41,595,000 after acquiring an additional 8,474 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in Fox Factory by 15.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after acquiring an additional 127,187 shares during 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.