Robert W. Baird Issues Pessimistic Forecast for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXF) had its price objective dropped by stock analysts at Robert W. Baird from $38.00 to $32.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 25.59% from the stock’s current price.

A number of other analysts have also issued reports on the company. Roth Mkm lowered their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Truist Financial dropped their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.33.

Fox Factory Stock Performance

FOXF stock opened at $25.48 on Friday. Fox Factory has a twelve month low of $25.17 and a twelve month high of $54.85. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 98.00, a PEG ratio of 1.45 and a beta of 1.58. The business’s fifty day simple moving average is $27.88 and its two-hundred day simple moving average is $33.83. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On Fox Factory

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Fox Factory in the 4th quarter worth approximately $45,000. KBC Group NV grew its holdings in Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in Fox Factory in the fourth quarter worth $143,000. Magnetar Financial LLC acquired a new position in shares of Fox Factory during the fourth quarter worth $206,000. Finally, Aristides Capital LLC purchased a new stake in shares of Fox Factory during the 4th quarter valued at $206,000.

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.