Fox Factory Holding Corp. (FOXF) Earns Buy Rating from Analysts at Jefferies Group
Jefferies Group started coverage on shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in a research report released on Friday. The brokerage issued a buy rating and a $26.00 price target on the stock.
A number of other analysts have also recently issued reports on the company. Piper Jaffray Cos. reiterated an overweight rating and set a $23.00 target price (up previously from $21.00) on shares of Fox Factory Holding Corp. in a report on Thursday, August 4th. Zacks Investment Research upgraded Fox Factory Holding Corp. from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Friday, August 5th. 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 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 report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $23.60.
Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) opened at 22.60 on Friday. The firm has a market cap of $828.31 million, a PE ratio of 28.97 and a beta of 0.55. The firm’s 50-day moving average is $20.85 and its 200-day moving average is $18.22. Fox Factory Holding Corp. has a 12-month low of $13.85 and a 12-month high of $23.52.
Fox Factory Holding Corp. (NASDAQ:FOXF) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. Fox Factory Holding Corp. had a net margin of 7.70% and a return on equity of 27.62%. The company earned $102.30 million during the quarter, compared to the consensus estimate of $98.53 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Fox Factory Holding Corp. will post $1.15 earnings per share for the current fiscal year.
In other Fox Factory Holding Corp. news, CFO Zvi Glasman sold 30,000 shares of the company’s stock in a transaction that occurred on 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 owns 62,021 shares in the company, valued at approximately $1,247,862.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 46.20% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FOXF. BlackRock Group LTD boosted its position in Fox Factory Holding Corp. by 68.9% in the second quarter. BlackRock Group LTD now owns 7,461 shares of the company’s stock worth $130,000 after buying an additional 3,044 shares in the last quarter. Bank of Montreal Can bought a new position in Fox Factory Holding Corp. during the second quarter worth $147,000. BlackRock Advisors LLC boosted its position in Fox Factory Holding Corp. by 97.5% in the second quarter. BlackRock Advisors LLC now owns 9,457 shares of the company’s stock worth $164,000 after buying an additional 4,669 shares in the last quarter. Alliancebernstein L.P. bought a new position in Fox Factory Holding Corp. during the second quarter worth $195,000. Finally, American International Group Inc. boosted its position in Fox Factory Holding Corp. by 29.7% in the second quarter. American International Group Inc. now owns 12,882 shares of the company’s stock worth $224,000 after buying an additional 2,953 shares in the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.
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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