Fox Factory (NASDAQ:FOXF) PT Lowered to $45.00

Fox Factory (NASDAQ:FOXF) had its price target dropped by investment analysts at Stifel Nicolaus from $56.00 to $45.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 10.73% from the company’s previous close.

FOXF has been the subject of a number of other research reports. Truist Financial decreased their price objective on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 23rd. StockNews.com downgraded shares of Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Fox Factory currently has an average rating of “Hold” and a consensus target price of $66.00.

Fox Factory Stock Performance

NASDAQ FOXF opened at $40.64 on Wednesday. Fox Factory has a 52-week low of $40.15 and a 52-week high of $117.68. The company has a 50-day simple moving average of $50.75 and a 200 day simple moving average of $62.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. The company has a market capitalization of $1.71 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 3.42 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company had revenue of $332.50 million for the quarter, compared to analysts’ expectations of $327.07 million. During the same quarter last year, the business posted $1.43 EPS. The business’s quarterly revenue was down 18.6% on a year-over-year basis. On average, research analysts predict that Fox Factory will post 2.42 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Fox Factory during the first quarter valued at approximately $3,296,000. Louisiana State Employees Retirement System lifted its holdings in shares of Fox Factory by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock worth $635,000 after acquiring an additional 300 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Fox Factory in the 1st quarter worth approximately $781,000. Norden Group LLC lifted its holdings in shares of Fox Factory by 3,378.1% in the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after acquiring an additional 278,185 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Fox Factory in the 1st quarter worth approximately $260,000.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.