Fox Factory (NASDAQ:FOXF) Price Target Cut to $135.00

Fox Factory (NASDAQ:FOXF – Get Rating) had its price objective lowered by analysts at Jefferies Financial Group from $145.00 to $135.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 17.15% from the stock’s current price.

FOXF has been the topic of a number of other reports. Robert W. Baird raised their price objective on Fox Factory from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, February 24th. Stifel Nicolaus raised their price objective on Fox Factory from $115.00 to $133.00 in a report on Monday, December 5th. Truist Financial raised their price objective on Fox Factory from $115.00 to $125.00 in a report on Friday, February 24th. TheStreet raised Fox Factory from a “c+” rating to a “b” rating in a research note on Tuesday, March 7th. Finally, StockNews.com initiated coverage on Fox Factory in a research note on Thursday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.25.

Fox Factory Stock Performance

Shares of FOXF opened at $115.24 on Friday. The company has a market cap of $4.87 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.85. The company has a current ratio of 3.08, a quick ratio of 1.73 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $115.75 and a 200-day moving average price of $99.99. Fox Factory has a 12-month low of $69.28 and a 12-month high of $127.54.

Fox Factory (NASDAQ:FOXF – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.21. The company had revenue of $408.60 million for the quarter, compared to analysts’ expectations of $383.86 million. Fox Factory had a return on equity of 22.55% and a net margin of 12.81%. Fox Factory’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS. As a group, equities analysts forecast that Fox Factory will post 5.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fox Factory news, CEO Michael C. Dennison sold 7,500 shares of Fox Factory stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $115.00, for a total value of $862,500.00. Following the transaction, the chief executive officer now directly owns 62,701 shares of the company’s stock, valued at approximately $7,210,615. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Fox Factory

Several hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in shares of Fox Factory by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock valued at $1,031,000 after buying an additional 100 shares during the period. State of Michigan Retirement System increased its stake in shares of Fox Factory by 0.9% during the fourth quarter. State of Michigan Retirement System now owns 10,789 shares of the company’s stock valued at $984,000 after buying an additional 100 shares during the period. Metropolitan Life Insurance Co NY increased its stake in shares of Fox Factory by 4.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,610 shares of the company’s stock valued at $238,000 after buying an additional 104 shares during the period. LPL Financial LLC increased its stake in shares of Fox Factory by 1.1% during the second quarter. LPL Financial LLC now owns 9,617 shares of the company’s stock valued at $806,000 after buying an additional 105 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Fox Factory by 10.7% during the fourth quarter. Spire Wealth Management now owns 1,276 shares of the company’s stock valued at $116,000 after purchasing an additional 123 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

About Fox Factory

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Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.