Fox Factory (NASDAQ:FOXF) had its price target lifted by Stifel Nicolaus from $42.00 to $55.00 in a research report report published on Thursday, August 2nd, Marketbeat reports. The brokerage currently has a hold rating on the stock.
FOXF has been the subject of a number of other research reports. BidaskClub raised Fox Factory from a buy rating to a strong-buy rating in a report on Friday, June 8th. Zacks Investment Research cut Fox Factory from a buy rating to a hold rating in a report on Wednesday, June 13th. Bank of America raised Fox Factory from a neutral rating to a buy rating and set a $45.00 price target for the company in a report on Tuesday, May 1st. Jefferies Financial Group began coverage on Fox Factory in a report on Monday, July 16th. They issued a buy rating and a $63.00 price target for the company. Finally, Berenberg Bank began coverage on Fox Factory in a report on Wednesday, June 20th. They issued a buy rating and a $51.00 price target for the company. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $53.14.
Fox Factory traded up $0.05, hitting $63.80, during trading hours on Thursday, Marketbeat reports. 166,479 shares of the stock traded hands, compared to its average volume of 229,234. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 2.18. The company has a market cap of $2.41 billion, a PE ratio of 36.22, a PEG ratio of 1.82 and a beta of 0.69. Fox Factory has a 1 year low of $33.20 and a 1 year high of $64.90.
Fox Factory (NASDAQ:FOXF) last issued its earnings results on Wednesday, August 1st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Fox Factory had a return on equity of 27.73% and a net margin of 10.93%. The firm had revenue of $156.80 million for the quarter, compared to the consensus estimate of $146.72 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. analysts predict that Fox Factory will post 2.09 EPS for the current fiscal year.
In other news, insider Wesley E. Allinger sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $50.02, for a total transaction of $1,000,400.00. Following the completion of the transaction, the insider now directly owns 62,132 shares in the company, valued at $3,107,842.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Zvi Glasman sold 10,500 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $38.81, for a total value of $407,505.00. Following the transaction, the chief financial officer now owns 37,067 shares of the company’s stock, valued at $1,438,570.27. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $2,646,030 over the last quarter. 5.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Fox Factory by 10.8% in the second quarter. BlackRock Inc. now owns 5,233,996 shares of the company’s stock valued at $243,642,000 after purchasing an additional 511,948 shares during the period. Neuberger Berman Group LLC boosted its holdings in Fox Factory by 7.3% in the first quarter. Neuberger Berman Group LLC now owns 2,133,929 shares of the company’s stock valued at $74,474,000 after purchasing an additional 145,478 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Fox Factory by 6.5% in the second quarter. Conestoga Capital Advisors LLC now owns 1,896,466 shares of the company’s stock valued at $88,280,000 after purchasing an additional 115,750 shares during the period. Van Berkom & Associates Inc. boosted its holdings in Fox Factory by 11.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,645,234 shares of the company’s stock valued at $76,586,000 after purchasing an additional 172,070 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Fox Factory by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,338,548 shares of the company’s stock valued at $46,715,000 after purchasing an additional 8,206 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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