Fox Factory (NASDAQ:FOXF) Price Target Lowered to $38.00 at Jefferies Financial Group

Fox Factory (NASDAQ:FOXF) had its price target decreased by stock analysts at Jefferies Financial Group from $45.00 to $38.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 37.04% from the company’s previous close.

A number of other equities research analysts also recently weighed in on FOXF. Robert W. Baird lowered their target price on Fox Factory from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial dropped their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Roth Mkm cut their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus target price of $39.14.

Fox Factory Trading Up 8.8 %

FOXF stock traded up $2.25 during trading on Friday, hitting $27.73. The company had a trading volume of 1,432,909 shares, compared to its average volume of 501,453. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. Fox Factory has a one year low of $25.17 and a one year high of $54.85. The business has a 50-day moving average of $27.88 and a 200-day moving average of $33.83. The stock has a market cap of $1.16 billion, a PE ratio of 106.66, a PEG ratio of 1.45 and a beta of 1.58.

Fox Factory (NASDAQ:FOXF) last posted 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. The company had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $321.31 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Research analysts predict that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its position in Fox Factory by 36.5% in the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares in the last quarter. FORA Capital LLC grew its holdings in shares of Fox Factory by 5.9% in the third quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock valued at $378,000 after acquiring an additional 507 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Fox Factory by 10.1% during the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after acquiring an additional 680 shares during the last quarter. Swiss National Bank lifted its holdings in Fox Factory by 0.9% during the fourth quarter. Swiss National Bank now owns 82,000 shares of the company’s stock worth $2,482,000 after acquiring an additional 700 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Fox Factory by 1.8% during the third quarter. Victory Capital Management Inc. now owns 42,891 shares of the company’s stock worth $1,780,000 after acquiring an additional 772 shares during the period.

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.