Fox Factory (NASDAQ:FOXF) Price Target Cut to $45.00 by Analysts at Stifel Nicolaus

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

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

Fox Factory Price Performance

Shares of NASDAQ:FOXF opened at $39.88 on Wednesday. The company has a 50-day moving average price of $50.28 and a 200 day moving average price of $62.32. Fox Factory has a 52 week low of $39.17 and a 52 week high of $117.68. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.67 billion, a P/E ratio of 13.99, a PEG ratio of 3.42 and a beta of 1.64.

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

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Fox Factory during the 4th quarter valued at $31,429,000. FMR LLC grew its stake in shares of Fox Factory by 46.2% during the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after buying an additional 359,168 shares during the period. Norden Group LLC grew its stake in shares of Fox Factory by 3,378.1% during the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after buying an additional 278,185 shares during the period. Bamco Inc. NY purchased a new stake in shares of Fox Factory during the 3rd quarter valued at $27,247,000. Finally, RWWM Inc. purchased a new stake in shares of Fox Factory during the 4th quarter valued at $7,969,000.

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.