Fox Factory (NASDAQ:FOXF) Price Target Cut to $45.00

Fox Factory (NASDAQ:FOXF) had its price objective reduced by Stifel Nicolaus from $56.00 to $45.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Bank of America cut Fox Factory from a buy rating to a neutral rating and set a $55.00 target price on the stock. in a research note on Friday, February 23rd. StockNews.com lowered Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Finally, Truist Financial decreased their target price on Fox Factory from $90.00 to $60.00 and set a buy rating on the stock in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fox Factory has an average rating of Hold and a consensus price target of $66.00.

Fox Factory Trading Up 2.7 %

NASDAQ:FOXF opened at $40.45 on Wednesday. Fox Factory has a fifty-two week low of $38.80 and a fifty-two week high of $117.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91. The stock has a market capitalization of $1.70 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.64. The business’s 50-day simple moving average is $48.64 and its 200-day simple moving average is $61.63.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.34). The business had revenue of $332.50 million for the quarter, compared to the consensus estimate of $327.07 million. Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Sell-side analysts expect that Fox Factory will post 2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. GAMMA Investing LLC acquired a new position in Fox Factory in the 4th quarter valued at $29,000. Quest Partners LLC acquired a new position in Fox Factory in the 4th quarter valued at $31,000. Operose Advisors LLC acquired a new position in Fox Factory in the 3rd quarter valued at $37,000. Assetmark Inc. grew its holdings in Fox Factory by 171.4% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after buying an additional 240 shares in the last quarter. Finally, CWM LLC grew its holdings in Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after buying an additional 219 shares in the last quarter.

Fox Factory Company Profile

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.