Fox Factory (FOXF) Lowered to “Hold” at ValuEngine
ValuEngine cut shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a research report sent to investors on Friday.
A number of other brokerages also recently commented on FOXF. Zacks Investment Research downgraded shares of Fox Factory from a buy rating to a hold rating in a report on Friday, October 20th. SunTrust Banks reiterated a hold rating and set a $36.00 price target on shares of Fox Factory in a report on Friday, October 20th. William Blair downgraded shares of Fox Factory from an outperform rating to a market perform rating in a report on Friday, October 13th. Robert W. Baird reiterated a hold rating and set a $40.00 price target on shares of Fox Factory in a report on Thursday, September 28th. Finally, Bank of America lifted their price target on shares of Fox Factory from $42.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, October 24th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fox Factory has an average rating of Hold and an average target price of $39.29.
Shares of Fox Factory (NASDAQ:FOXF) traded up $0.15 on Friday, reaching $39.15. 538,693 shares of the company’s stock were exchanged, compared to its average volume of 310,255. The company has a current ratio of 2.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1,470.00, a PE ratio of 25.66, a P/E/G ratio of 1.84 and a beta of 0.69. Fox Factory has a one year low of $24.63 and a one year high of $46.80.
Fox Factory (NASDAQ:FOXF) last announced its earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. research analysts predict that Fox Factory will post 1.53 earnings per share for the current fiscal year.
In related news, SVP William H. Katherman sold 18,580 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $780,545.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.40% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its holdings in Fox Factory by 76.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after purchasing an additional 1,332 shares during the period. SG Americas Securities LLC acquired a new position in Fox Factory during the second quarter valued at approximately $111,000. LS Investment Advisors LLC lifted its position in Fox Factory by 7.5% during the second quarter. LS Investment Advisors LLC now owns 3,990 shares of the company’s stock valued at $142,000 after buying an additional 279 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Fox Factory during the second quarter valued at approximately $160,000. Finally, Pinebridge Investments L.P. lifted its position in Fox Factory by 20.5% during the second quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after buying an additional 778 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.
About Fox Factory
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including 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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