Fox Factory (NASDAQ:FOXF) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a strong sell rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. CJS Securities upgraded shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Roth Mkm decreased their price objective on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and an average target price of $28.60.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded down $1.21 during trading on Thursday, reaching $16.31. 963,781 shares of the company’s stock traded hands, compared to its average volume of 663,175. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. Fox Factory has a fifty-two week low of $13.08 and a fifty-two week high of $31.18. The company has a 50-day simple moving average of $18.61 and a 200-day simple moving average of $20.75. The firm has a market cap of $681.76 million, a PE ratio of -1.25 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The company had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Fox Factory’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. First Bank & Trust lifted its stake in Fox Factory by 8.1% in the third quarter. First Bank & Trust now owns 8,345 shares of the company’s stock valued at $203,000 after buying an additional 623 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in shares of Fox Factory by 9.2% during the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock worth $202,000 after acquiring an additional 700 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Fox Factory by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 111,190 shares of the company’s stock valued at $2,884,000 after acquiring an additional 705 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Fox Factory by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,709 shares of the company’s stock valued at $278,000 after acquiring an additional 734 shares during the period. Finally, Engineers Gate Manager LP raised its position in Fox Factory by 1.1% in the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock valued at $1,264,000 after purchasing an additional 770 shares during the last quarter.

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.