Fox Factory Holding Corp. (NASDAQ:FOXF) Given Average Rating of “Hold” by Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has received an average rating of “Hold” from the eight analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.20.

FOXF has been the subject of several research analyst reports. Bank of America lowered shares of Fox Factory from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Weiss Ratings downgraded Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Roth Capital reiterated a “neutral” rating and issued a $20.00 target price on shares of Fox Factory in a research note on Friday, May 8th. Fox Advisors set a $20.00 price target on shares of Fox Factory in a report on Tuesday, June 30th. Finally, Stifel Nicolaus set a $24.00 price objective on Fox Factory in a report on Thursday, April 16th.

Institutional Trading of Fox Factory

Several large investors have recently made changes to their positions in the company. Western Standard LLC acquired a new position in shares of Fox Factory during the 4th quarter valued at about $2,053,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Fox Factory by 3,173.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock worth $6,650,000 after purchasing an additional 376,792 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Fox Factory by 72.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after buying an additional 522,391 shares in the last quarter. Intech Investment Management LLC grew its position in Fox Factory by 158.2% in the 4th quarter. Intech Investment Management LLC now owns 60,081 shares of the company’s stock valued at $1,028,000 after acquiring an additional 36,811 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Fox Factory in the fourth quarter valued at approximately $1,819,000.

Fox Factory Stock Up 2.2%

Fox Factory stock traded up $0.37 during trading hours on Friday, reaching $16.99. The stock had a trading volume of 308,820 shares, compared to its average volume of 611,139. 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 business’s 50 day moving average price is $17.46 and its 200-day moving average price is $17.69. Fox Factory has a 52 week low of $13.08 and a 52 week high of $31.18.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.09. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The company had revenue of $368.66 million during the quarter, compared to the consensus estimate of $351.75 million. During the same period last year, the firm earned $0.23 earnings per share. Fox Factory’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Fox Factory will post 1.41 EPS for the current year.

About Fox Factory

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.