Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $47.67 Average PT from Analysts

Fox Factory Holding Corp. (NASDAQ:FOXF) has been given a consensus rating of “Hold” by the six brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $47.67.

A number of research analysts have recently commented on the company. B. Riley dropped their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Stifel Nicolaus dropped their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Bank of America decreased their price objective 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. Roth Mkm decreased their price objective on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Robert W. Baird decreased their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd.

Fox Factory Price Performance

FOXF opened at $47.61 on Friday. The stock’s 50-day moving average price is $44.98 and its 200 day moving average price is $53.80. Fox Factory has a 12-month low of $37.98 and a 12-month high of $117.68. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.17 and a beta of 1.71.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $327.58 million. During the same quarter in the prior year, the company earned $1.20 EPS. Fox Factory’s revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts expect that Fox Factory will post 2.4 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Fox Factory

Several hedge funds have recently bought and sold shares of the stock. Mariner LLC increased its position in Fox Factory by 5.1% during the third quarter. Mariner LLC now owns 4,491 shares of the company’s stock worth $445,000 after buying an additional 216 shares in the last quarter. CWM LLC increased its position in Fox Factory by 54.1% during the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 shares in the last quarter. Benjamin Edwards Inc. increased its position in Fox Factory by 15.7% during the fourth quarter. Benjamin Edwards Inc. now owns 2,074 shares of the company’s stock worth $140,000 after buying an additional 282 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Fox Factory by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock valued at $635,000 after purchasing an additional 300 shares during the period. Finally, Portside Wealth Group LLC grew its position in shares of Fox Factory by 2.5% in the fourth quarter. Portside Wealth Group LLC now owns 13,167 shares of the company’s stock valued at $889,000 after purchasing an additional 318 shares during the period.

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.