Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $32.40 Average Price Target from Analysts

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned an average rating of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.40.

FOXF has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research report on Wednesday, October 8th. Stifel Nicolaus set a $33.00 target price on Fox Factory in a research report on Tuesday, October 7th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $32.00 target price (up previously from $26.00) on shares of Fox Factory in a research report on Friday, August 8th.

Fox Factory Price Performance

Fox Factory stock opened at $22.89 on Monday. Fox Factory has a 12 month low of $17.95 and a 12 month high of $37.69. The stock’s 50 day moving average is $25.18 and its 200-day moving average is $25.88. The company has a current ratio of 3.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $956.82 million, a price-to-earnings ratio of -3.78 and a beta of 1.43.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Fox Factory had a negative net margin of 17.50% and a positive return on equity of 5.03%. The firm had revenue of $374.86 million during the quarter, compared to analyst estimates of $349.01 million. During the same period in the previous year, the company posted $0.38 EPS. Fox Factory’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that Fox Factory will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently made changes to their positions in FOXF. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 254.1% in the first quarter. GAMMA Investing LLC now owns 1,696 shares of the company’s stock valued at $40,000 after buying an additional 1,217 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Fox Factory by 113.8% in the first quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Fox Factory by 2.6% in the first quarter. Principal Financial Group Inc. now owns 231,030 shares of the company’s stock valued at $5,392,000 after buying an additional 5,863 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Fox Factory by 29.1% in the first quarter. Envestnet Asset Management Inc. now owns 163,301 shares of the company’s stock valued at $3,811,000 after buying an additional 36,788 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Fox Factory by 474.4% in the first quarter. Nisa Investment Advisors LLC now owns 1,993 shares of the company’s stock valued at $47,000 after buying an additional 1,646 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.