Fox Factory Holding Corp. (NASDAQ:FOXF) Receives Consensus Rating of “Hold” from Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.20.

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Roth Capital reaffirmed a “neutral” rating and set a $20.00 price target on shares of Fox Factory in a report on Friday, May 8th. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a report on Thursday, April 16th. Fox Advisors set a $20.00 target price on shares of Fox Factory in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC raised its stake in Fox Factory by 200.3% in the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock valued at $37,442,000 after purchasing an additional 1,459,652 shares during the last quarter. Engine Capital Management LP boosted its holdings in shares of Fox Factory by 162.3% in the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after purchasing an additional 1,253,808 shares during the last quarter. Towle & Co. acquired a new position in Fox Factory in the fourth quarter valued at $8,967,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of Fox Factory by 72.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock worth $30,101,000 after purchasing an additional 522,391 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Fox Factory by 294.3% during the fourth quarter. Renaissance Technologies LLC now owns 547,693 shares of the company’s stock worth $9,371,000 after buying an additional 408,800 shares during the period.

Fox Factory Stock Up 2.2%

Shares of FOXF traded up $0.37 during midday trading on Friday, reaching $16.99. The stock had a trading volume of 308,820 shares, compared to its average volume of 611,139. Fox Factory has a 1-year low of $13.08 and a 1-year high of $31.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. The company has a market cap of $712.56 million, a price-to-earnings ratio of -2.37, a PEG ratio of 0.66 and a beta of 1.37. The company’s fifty day simple moving average is $17.46 and its two-hundred day simple moving average is $17.69.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.09. The business had revenue of $368.66 million during the quarter, compared to analysts’ expectations of $351.75 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts expect that Fox Factory will post 1.41 earnings per share for the current year.

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.