Fox Factory Holding Corp. (FOXF) Receives $24.00 Average Price Target from Brokerages
Fox Factory Holding Corp. (NASDAQ:FOXF) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $24.20.
Several equities analysts recently commented on FOXF shares. Jefferies Group started coverage on Fox Factory Holding Corp. in a research report on Friday, September 30th. They set a “buy” rating and a $26.00 target price for the company. Zacks Investment Research cut Fox Factory Holding Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. SunTrust Banks Inc. boosted their target price on Fox Factory Holding Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Piper Jaffray Cos. restated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Fox Factory Holding Corp. in a research report on Thursday, August 4th. Finally, DA Davidson boosted their target price on Fox Factory Holding Corp. from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th.
In other news, CFO Zvi Glasman sold 30,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $20.12, for a total value of $603,600.00. Following the completion of the transaction, the chief financial officer now directly owns 62,021 shares in the company, valued at approximately $1,247,862.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 46.20% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Fox Factory Holding Corp. during the second quarter worth about $23,374,000. Conestoga Capital Advisors LLC purchased a new position in Fox Factory Holding Corp. during the second quarter worth about $10,254,000. Royce & Associates LP boosted its position in Fox Factory Holding Corp. by 126.9% in the first quarter. Royce & Associates LP now owns 438,100 shares of the company’s stock worth $6,926,000 after buying an additional 245,000 shares during the last quarter. Lazard Asset Management LLC boosted its position in Fox Factory Holding Corp. by 11.8% in the first quarter. Lazard Asset Management LLC now owns 1,732,185 shares of the company’s stock worth $27,385,000 after buying an additional 182,840 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Fox Factory Holding Corp. by 11.1% in the second quarter. Royal Bank of Canada now owns 1,808,925 shares of the company’s stock worth $31,421,000 after buying an additional 180,848 shares during the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.
Fox Factory Holding Corp. (NASDAQ:FOXF) opened at 22.10 on Thursday. The company has a market capitalization of $809.99 million, a P/E ratio of 28.33 and a beta of 0.55. Fox Factory Holding Corp. has a 12 month low of $13.85 and a 12 month high of $23.52. The stock’s 50 day moving average price is $21.61 and its 200-day moving average price is $18.53.
Fox Factory Holding Corp. (NASDAQ:FOXF) last posted its earnings results on Wednesday, August 3rd. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. Fox Factory Holding Corp. had a return on equity of 27.62% and a net margin of 7.70%. The business earned $102.30 million during the quarter, compared to analysts’ expectations of $98.53 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Fox Factory Holding Corp. will post $1.15 EPS for the current fiscal year.
About Fox Factory Holding Corp.
Fox Factory Holding Corp. designs, engineers, manufactures and markets performance ride dynamics products for customers across the world. The Company’s brand ride dynamics products are used primarily on bicycles (bikes), side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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