Zacks Investment Research upgraded shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $25.00 price objective on the stock.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

A number of other equities research analysts have also weighed in on the stock. Jefferies Group started coverage on shares of Fox Factory Holding Corp. in a research note on Friday, September 30th. They set a buy rating and a $26.00 target price for the company. SunTrust Banks Inc. boosted their price objective on shares of Fox Factory Holding Corp. from $22.00 to $24.00 and gave the company a buy rating in a research report on Thursday, August 4th. Piper Jaffray Cos. reissued an overweight rating and set a $23.00 price objective (up previously from $21.00) on shares of Fox Factory Holding Corp. in a research report on Thursday, August 4th. Finally, DA Davidson boosted their price objective on shares of Fox Factory Holding Corp. from $22.00 to $23.00 and gave the company a buy rating in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and a consensus target price of $24.20.

Fox Factory Holding Corp. (NASDAQ:FOXF) traded up 0.90% during midday trading on Friday, reaching $22.30. The company’s stock had a trading volume of 50,607 shares. The firm has a market cap of $817.32 million, a P/E ratio of 28.59 and a beta of 0.55. Fox Factory Holding Corp. has a one year low of $13.85 and a one year high of $23.52. The firm has a 50 day moving average price of $21.61 and a 200 day moving average price of $18.53.

Fox Factory Holding Corp. (NASDAQ:FOXF) last announced its earnings results on Wednesday, August 3rd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business earned $102.30 million during the quarter, compared to analyst estimates of $98.53 million. Fox Factory Holding Corp. had a net margin of 7.70% and a return on equity of 27.62%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. Equities research analysts forecast that Fox Factory Holding Corp. will post $1.15 EPS for the current fiscal year.

In related news, CFO Zvi Glasman sold 30,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were 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 owns 62,021 shares of the company’s stock, valued at approximately $1,247,862.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 46.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Fox Factory Holding Corp. during the second quarter valued at $23,374,000. Conestoga Capital Advisors LLC bought a new stake in shares of Fox Factory Holding Corp. during the second quarter valued at approximately $10,254,000. Royce & Associates LP boosted its stake in shares of Fox Factory Holding Corp. by 126.9% in the first quarter. Royce & Associates LP now owns 438,100 shares of the company’s stock valued at $6,926,000 after buying an additional 245,000 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of 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 valued at $27,385,000 after buying an additional 182,840 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of 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 valued at $31,421,000 after buying an additional 180,848 shares during the last quarter. 58.20% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:FOXF

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