Fox Factory (NASDAQ:FOXF) Lowered to “Strong Sell” Rating by Zacks Research

Fox Factory (NASDAQ:FOXF) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

FOXF has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Stifel Nicolaus set a $33.00 price objective on Fox Factory in a research report on Tuesday, October 7th. Finally, Roth Mkm dropped their target price on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fox Factory has a consensus rating of “Hold” and a consensus price target of $30.17.

Fox Factory Price Performance

Shares of FOXF opened at $18.36 on Wednesday. The stock has a 50 day simple moving average of $17.82 and a 200 day simple moving average of $22.30. Fox Factory has a 52-week low of $13.08 and a 52-week high of $31.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.36 and a current ratio of 2.98. The firm has a market capitalization of $767.45 million, a PE ratio of -2.97 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.33). Fox Factory had a negative net margin of 17.66% and a positive return on equity of 4.84%. The company had revenue of $376.36 million during the quarter, compared to the consensus estimate of $382.59 million. During the same period in the previous year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Fox Factory will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP acquired a new position in shares of Fox Factory during the 2nd quarter worth approximately $21,228,000. ArrowMark Colorado Holdings LLC grew its stake in shares of Fox Factory by 72.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after buying an additional 522,391 shares in the last quarter. WCM Investment Management LLC acquired a new position in Fox Factory during the third quarter worth $10,565,000. Teachers Retirement System of The State of Kentucky increased its holdings in Fox Factory by 3,173.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock worth $6,650,000 after buying an additional 376,792 shares during the last quarter. Finally, Tenzing Global Management LLC bought a new stake in Fox Factory during the second quarter worth $9,079,000.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.