Fox Factory Holding Corp. (NASDAQ:FOXF) Given Average Recommendation of “Hold” by Analysts

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $47.67.

FOXF has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a 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 on the stock in a research note on Monday, May 6th. B. Riley dropped their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note 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. Finally, Truist Financial raised their price target on Fox Factory from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th.

Fox Factory Trading Down 2.9 %

FOXF opened at $48.00 on Tuesday. Fox Factory has a one year low of $37.98 and a one year high of $117.68. The company has a market cap of $2.00 billion, a P/E ratio of 26.82, a PEG ratio of 2.10 and a beta of 1.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. The business’s 50-day simple moving average is $47.21 and its 200-day simple moving average is $51.58.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS 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 business had revenue of $333.50 million for the quarter, compared to the consensus estimate of $327.58 million. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, equities research analysts expect that Fox Factory will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Fox Factory

Several hedge funds have recently modified their holdings of FOXF. Deutsche Bank AG lifted its holdings in shares of Fox Factory by 4.0% in the 3rd quarter. Deutsche Bank AG now owns 75,014 shares of the company’s stock valued at $7,432,000 after buying an additional 2,910 shares during the period. American Century Companies Inc. raised its holdings in Fox Factory by 5.3% during the third quarter. American Century Companies Inc. now owns 269,893 shares of the company’s stock worth $26,741,000 after purchasing an additional 13,552 shares during the last quarter. Wellington Management Group LLP raised its holdings in Fox Factory by 1.2% during the third quarter. Wellington Management Group LLP now owns 362,662 shares of the company’s stock worth $35,933,000 after purchasing an additional 4,309 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Fox Factory by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 51,051 shares of the company’s stock worth $5,058,000 after purchasing an additional 5,587 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Fox Factory during the fourth quarter worth $187,000.

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.