B. Riley Trims Fox Factory (NASDAQ:FOXF) Target Price to $45.00

Fox Factory (NASDAQ:FOXF) had its target price cut by B. Riley from $50.00 to $45.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Fox Factory’s FY2024 earnings at $2.32 EPS.

Several other research analysts have also issued reports on the stock. Roth Mkm cut their target price on shares of Fox Factory from $55.00 to $45.00 and set a neutral rating for the company in a research report on Friday. Bank of America lowered Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective on the stock. in a research report on Friday, February 23rd. Truist Financial cut their target price on Fox Factory from $60.00 to $50.00 and set a buy rating for the company in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com cut shares of Fox Factory from a hold rating to a sell rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fox Factory has an average rating of Hold and a consensus target price of $46.83.

Fox Factory Price Performance

NASDAQ:FOXF opened at $44.31 on Friday. Fox Factory has a 52-week low of $37.98 and a 52-week high of $117.68. The stock has a fifty day moving average of $46.36 and a 200 day moving average of $58.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company had revenue of $333.50 million during the quarter, compared to analyst estimates of $327.58 million. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Fox Factory’s revenue was down 16.6% on a year-over-year basis. On average, research analysts expect that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Fox Factory during the fourth quarter worth about $29,000. Quest Partners LLC bought a new position in Fox Factory during the 4th quarter valued at approximately $31,000. Operose Advisors LLC purchased a new stake in Fox Factory in the 3rd quarter worth approximately $37,000. Assetmark Inc. grew its position in shares of Fox Factory by 171.4% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock worth $38,000 after buying an additional 240 shares during the last quarter. Finally, CWM LLC increased its stake 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 buying an additional 219 shares during the period.

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.