Roth Mkm Cuts Fox Factory (NASDAQ:FOXF) Price Target to $36.00

Fox Factory (NASDAQ:FOXF) had its price objective decreased by equities research analysts at Roth Mkm from $45.00 to $36.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 9.42% from the stock’s current price.

FOXF has been the subject of a number of other research reports. Robert W. Baird cut their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America lowered their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Truist Financial lowered their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Stock Down 8.6 %

FOXF stock traded down $3.09 during midday trading on Friday, hitting $32.90. The company’s stock had a trading volume of 1,612,646 shares, compared to its average volume of 573,165. The company has a market cap of $1.37 billion, a PE ratio of 33.07, a P/E/G ratio of 2.52 and a beta of 1.64. The firm’s 50-day moving average is $39.69 and its 200-day moving average is $43.36. Fox Factory has a 12 month low of $31.19 and a 12 month high of $86.14. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. During the same period last year, the business earned $1.05 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison acquired 4,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Fox Factory by 86.0% during the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after purchasing an additional 277 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after acquiring an additional 545 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Fox Factory during the 3rd quarter valued at approximately $42,000. Fifth Third Bancorp grew its holdings in shares of Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares in the last quarter. Finally, Covestor Ltd increased its position in Fox Factory by 31.8% in the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after purchasing an additional 366 shares during the last quarter.

Fox Factory Company Profile

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.