Fox Factory Holding Corp. (FOXF) Cut to Hold at Zacks Investment Research
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. “
Several other research analysts have also commented on the stock. DA Davidson increased their price target on shares of Fox Factory Holding Corp. from $22.00 to $23.00 and gave the stock a buy rating in a research note on Thursday, August 4th. Piper Jaffray Cos. restated an overweight rating and set a $23.00 price target (up previously from $21.00) on shares of Fox Factory Holding Corp. in a research note on Thursday, August 4th. SunTrust Banks Inc. increased their price target on shares of Fox Factory Holding Corp. from $22.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, August 4th. Finally, 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 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $23.60.
Fox Factory Holding Corp. (NASDAQ:FOXF) traded down 0.5210% during mid-day trading on Tuesday, reaching $22.2236. 4,625 shares of the company’s stock traded hands. Fox Factory Holding Corp. has a 52-week low of $13.85 and a 52-week high of $23.52. The company has a market capitalization of $814.52 million, a price-to-earnings ratio of 28.4918 and a beta of 0.55. The company has a 50-day moving average of $21.07 and a 200-day moving average of $18.28.
Fox Factory Holding Corp. (NASDAQ:FOXF) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $102.30 million for 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 revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. Equities research analysts expect that Fox Factory Holding Corp. will post $1.15 EPS for the current year.
In related news, CFO Zvi Glasman sold 30,000 shares of the firm’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 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 accessible through this link. 46.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FOXF. BlackRock Group LTD raised 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 during the last quarter. Bank of Montreal Can purchased a new position in Fox Factory Holding Corp. during the second quarter worth about $147,000. BlackRock Advisors LLC raised 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 during the last quarter. Alliancebernstein L.P. purchased a new position in Fox Factory Holding Corp. during the second quarter worth about $195,000. Finally, American International Group Inc. raised 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 during the last quarter. Institutional investors and hedge funds 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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