Fox Factory (FOXF) Rating Lowered to Hold at Zacks Investment Research
Fox Factory (NASDAQ:FOXF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
A number of other research firms also recently commented on FOXF. William Blair downgraded shares of Fox Factory from an “outperform” rating to a “market perform” rating in a research note on Friday, October 13th. Robert W. Baird reiterated a “hold” rating and set a $40.00 price objective on shares of Fox Factory in a research note on Thursday, September 28th. SunTrust Banks reiterated a “hold” rating and set a $36.00 price objective on shares of Fox Factory in a research note on Friday, October 20th. ValuEngine downgraded shares of Fox Factory from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $44.00 price objective on shares of Fox Factory in a research note on Sunday, December 3rd. Nine research 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. Fox Factory currently has a consensus rating of “Hold” and a consensus target price of $39.29.
Fox Factory (NASDAQ FOXF) opened at $38.35 on Monday. The firm has a market cap of $1,480.00, a price-to-earnings ratio of 29.50, a PEG ratio of 1.55 and a beta of 0.63. The company has a quick ratio of 1.41, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. Fox Factory has a 52 week low of $25.25 and a 52 week 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 for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $127.40 million during the quarter, compared to the consensus estimate of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. analysts anticipate that Fox Factory will post 1.53 EPS for the current fiscal year.
In other Fox Factory news, CFO Zvi Glasman sold 10,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $39.37, for a total transaction of $393,700.00. Following the sale, the chief financial officer now directly owns 160,331 shares of the company’s stock, valued at $6,312,231.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Larry L. Enterline sold 75,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the sale, the chief executive officer now directly owns 124,934 shares in the company, valued at $4,757,486.72. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $3,845,500 over the last quarter. 21.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of FOXF. Schwab Charles Investment Management Inc. raised its holdings in shares of Fox Factory by 59.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 151,194 shares of the company’s stock worth $5,383,000 after purchasing an additional 56,538 shares during the period. Rhumbline Advisers raised its holdings in shares of Fox Factory by 30.7% during the second quarter. Rhumbline Advisers now owns 65,949 shares of the company’s stock worth $2,348,000 after purchasing an additional 15,496 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Fox Factory during the second quarter worth $111,000. Bank of New York Mellon Corp raised its holdings in shares of Fox Factory by 17.5% during the second quarter. Bank of New York Mellon Corp now owns 576,545 shares of the company’s stock worth $20,525,000 after purchasing an additional 86,062 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Fox Factory by 16.2% during the second quarter. Legal & General Group Plc now owns 63,251 shares of the company’s stock worth $2,249,000 after purchasing an additional 8,839 shares during the period. 97.78% of the stock is currently owned by institutional investors.
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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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