Fox Factory (NASDAQ:FOXF) Given New $50.00 Price Target at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price objective reduced by research analysts at Truist Financial from $60.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 14.89% from the stock’s current price.

FOXF has been the topic of several other reports. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Robert W. Baird lowered their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday. Roth Mkm cut their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Fox Factory Stock Up 10.4 %

FOXF stock traded up $4.10 during mid-day trading on Friday, hitting $43.52. 1,149,487 shares of the company were exchanged, compared to its average volume of 638,720. The firm has a fifty day simple moving average of $46.45 and a 200 day simple moving average of $59.53. The company has a market capitalization of $1.83 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. The business had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same period last year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, research analysts forecast that Fox Factory will post 2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently made changes to their positions in the business. FirstPurpose Wealth LLC grew its holdings in Fox Factory by 6.7% in the 3rd quarter. FirstPurpose Wealth LLC now owns 2,907 shares of the company’s stock worth $288,000 after buying an additional 183 shares in the last quarter. Mariner LLC boosted its position in Fox Factory by 5.1% during the 3rd quarter. Mariner LLC now owns 4,491 shares of the company’s stock worth $445,000 after acquiring an additional 216 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Fox Factory by 11.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,167 shares of the company’s stock worth $215,000 after purchasing an additional 217 shares in the last quarter. CWM LLC increased its holdings in shares of Fox Factory by 54.1% during the fourth quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after purchasing an additional 219 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Fox Factory by 8.1% during the third quarter. Inspire Investing LLC now owns 3,111 shares of the company’s stock valued at $308,000 after purchasing an additional 234 shares in the last quarter.

About Fox Factory

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.