Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Consensus Target Price of $21.00 According to Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.25.

A number of research analysts have issued reports on FOXF shares. Bank of America lowered Fox Factory from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Zacks Research raised Fox Factory from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Fox Factory in a research note on Friday, August 7th. Stifel Nicolaus set a $25.00 price objective on shares of Fox Factory in a research note on Wednesday. Finally, Fox Advisors set a $20.00 price objective on shares of Fox Factory in a report on Tuesday, June 30th.

Fox Factory Price Performance

Shares of NASDAQ:FOXF opened at $18.37 on Friday. The firm’s 50 day moving average is $19.90 and its two-hundred day moving average is $18.24. Fox Factory has a 52 week low of $13.08 and a 52 week high of $26.01. The firm has a market capitalization of $772.09 million, a P/E ratio of -2.57, a PEG ratio of 0.51 and a beta of 1.41. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The company had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $352.94 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts anticipate that Fox Factory will post 1.6 earnings per share for the current year.

Institutional Trading of Fox Factory

A number of institutional investors have recently made changes to their positions in FOXF. Hantz Financial Services Inc. increased its position in shares of Fox Factory by 188.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after purchasing an additional 1,343 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Fox Factory by 11.1% in the first quarter. Illinois Municipal Retirement Fund now owns 22,500 shares of the company’s stock valued at $370,000 after buying an additional 2,254 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Fox Factory in the second quarter valued at about $41,000. Quantbot Technologies LP bought a new stake in Fox Factory during the second quarter worth about $48,000. Finally, Inspire Investing LLC grew its stake in Fox Factory by 14.3% during the first quarter. Inspire Investing LLC now owns 31,394 shares of the company’s stock worth $517,000 after buying an additional 3,924 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. (NASDAQ: FOXF) designs, engineers and manufactures performance products for the cycling, powersports and specialty vehicle markets. The company’s offerings are intended for applications ranging from mountain biking and racing to off-road driving, snowmobiling and other recreational activities.

Its product portfolio includes suspension forks, shocks, dropper seatposts, wheels, drivetrain components, protective equipment, apparel and other vehicle accessories. Fox Factory sells products under brands that include FOX, Marzocchi, Race Face, Easton Cycling, Ride Concepts and RockyMounts.

Founded in 1974 by Bob Fox, the company began with suspension technology and expanded through product development and acquisitions into a broader portfolio of performance brands.