Fox Factory (NASDAQ:FOXF) Shares Gap Up – Time to Buy?

Fox Factory Holding Corp. (NASDAQ:FOXF) gapped up prior to trading on Wednesday . The stock had previously closed at $31.71, but opened at $33.15. Fox Factory shares last traded at $33.62, with a volume of 65,084 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FOXF. Robert W. Baird decreased their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Truist Financial dropped their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday. Bank of America lowered their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Roth Mkm cut their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fox Factory presently has an average rating of “Hold” and a consensus target price of $40.67.

Fox Factory Stock Down 2.0 %

The company has a market cap of $1.34 billion, a price-to-earnings ratio of 123.66, a price-to-earnings-growth ratio of 2.67 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The business has a 50-day simple moving average of $35.17 and a 200-day simple moving average of $41.09.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXF. GAMMA Investing LLC increased its holdings in shares of Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after acquiring an additional 277 shares during the last quarter. Signaturefd LLC boosted its holdings in Fox Factory by 301.1% in the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock valued at $30,000 after purchasing an additional 545 shares in the last quarter. nVerses Capital LLC purchased a new position in Fox Factory in the third quarter valued at approximately $42,000. KBC Group NV raised its holdings in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 shares during 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.