Fox Factory (NASDAQ:FOXF) Upgraded to “Hold” at StockNews.com

Fox Factory (NASDAQ:FOXF) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued reports about the company. Robert W. Baird reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Roth Mkm reduced their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Truist Financial dropped their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, B. Riley dropped their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.50.

Fox Factory Stock Up 1.8 %

Shares of FOXF stock traded up $0.57 during trading hours on Thursday, hitting $32.30. 923,885 shares of the company were exchanged, compared to its average volume of 594,396. 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’s 50-day simple moving average is $37.35 and its two-hundred day simple moving average is $42.17. Fox Factory has a one year low of $30.92 and a one year high of $70.13. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 124.24, a P/E/G ratio of 2.72 and a beta of 1.65.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after buying an additional 277 shares in 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 worth $30,000 after purchasing an additional 545 shares in the last quarter. nVerses Capital LLC bought a new stake in Fox Factory in the third quarter worth $42,000. KBC Group NV boosted its holdings in Fox Factory by 36.5% in 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 boosted its holdings in Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after purchasing an additional 261 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.