Fox Factory (NASDAQ:FOXF) PT Raised to $55.00 at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price objective raised by Truist Financial from $50.00 to $55.00 in a research note published on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms have also weighed in on FOXF. Stifel Nicolaus cut their target price on shares of Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a report on Wednesday, April 24th. Roth Mkm decreased their target price on shares of Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Bank of America dropped their price target on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research report on Monday, May 6th. StockNews.com downgraded Fox Factory from a hold rating to a sell rating in a research report on Monday, February 26th. Finally, Robert W. Baird dropped their target price on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $47.67.

Fox Factory Stock Performance

FOXF opened at $46.34 on Thursday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.97 and a beta of 1.71. The company has a fifty day moving average of $44.18 and a 200 day moving average of $54.48. Fox Factory has a fifty-two week low of $37.98 and a fifty-two week high of $117.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The firm had revenue of $333.50 million during the quarter, compared to analyst estimates of $327.58 million. During the same quarter last year, the business posted $1.20 earnings per share. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Fox Factory will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Thomas L. Fletcher sold 2,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael C. Dennison acquired 11,250 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $44.30 per share, for a total transaction of $498,375.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at approximately $5,770,783.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas L. Fletcher sold 2,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the stock. J.P. Morgan Private Wealth Advisors LLC lifted its position in Fox Factory by 42.3% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 3,079 shares of the company’s stock valued at $305,000 after acquiring an additional 916 shares during the last quarter. Swiss National Bank grew its position in Fox Factory by 1.0% during the 3rd quarter. Swiss National Bank now owns 92,900 shares of the company’s stock worth $9,205,000 after purchasing an additional 900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fox Factory by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 404,461 shares of the company’s stock valued at $40,074,000 after purchasing an additional 30,985 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Fox Factory by 42.8% in the third quarter. Van ECK Associates Corp now owns 8,629 shares of the company’s stock worth $855,000 after buying an additional 2,586 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new stake in shares of Fox Factory during the third quarter worth $217,000.

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.