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

Fox Factory (NASDAQ:FOXF) had its price target reduced by Robert W. Baird from $32.00 to $25.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, December 11th. Truist Financial reduced their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered their target price on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.14.

Fox Factory Stock Performance

Shares of FOXF opened at $20.95 on Friday. Fox Factory has a 52 week low of $18.69 and a 52 week high of $54.86. The stock has a market cap of $873.87 million, a P/E ratio of 80.58, a P/E/G ratio of 1.45 and a beta of 1.56. The business’s 50 day moving average price is $25.79 and its 200-day moving average price is $31.10. 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 announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $352.84 million for 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%. Equities research analysts anticipate that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC grew its position in shares of Fox Factory by 10.1% during the 4th 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 period. Swiss National Bank grew 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 valued at $2,482,000 after purchasing an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fox Factory by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock worth $455,000 after buying an additional 785 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock worth $32,000 after buying an additional 807 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Fox Factory by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company’s stock valued at $728,000 after buying an additional 816 shares in the last quarter.

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.