Fox Factory (NASDAQ:FOXF) Raised to “Hold” at Zacks Research

Fox Factory (NASDAQ:FOXF) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Roth Capital reduced their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday. Stifel Nicolaus set a $33.00 price objective on shares of Fox Factory in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d)” rating on shares of Fox Factory in a research report on Wednesday, October 8th. Finally, CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.17.

Fox Factory Price Performance

NASDAQ:FOXF opened at $18.33 on Tuesday. The business’s 50-day moving average is $16.90 and its 200 day moving average is $23.44. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18. The company has a market capitalization of $766.21 million, a P/E ratio of -2.97 and a beta of 1.46. The company has a current ratio of 2.98, a quick ratio of 1.36 and a debt-to-equity ratio of 0.69.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.33). Fox Factory had a negative net margin of 17.66% and a positive return on equity of 4.84%. The firm had revenue of $376.36 million for the quarter, compared to analysts’ expectations of $382.59 million. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Fox Factory has set its FY 2025 guidance at 0.920-1.120 EPS and its Q4 2025 guidance at 0.050-0.250 EPS. On average, equities research analysts forecast that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

A number of large investors have recently made changes to their positions in the company. Penn Capital Management Company LLC grew its holdings in Fox Factory by 2.0% during the 3rd quarter. Penn Capital Management Company LLC now owns 117,197 shares of the company’s stock valued at $2,847,000 after purchasing an additional 2,317 shares during the last quarter. Caxton Associates LLP boosted its position in shares of Fox Factory by 197.7% during the third quarter. Caxton Associates LLP now owns 26,096 shares of the company’s stock valued at $634,000 after buying an additional 17,329 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Fox Factory by 25.7% during the third quarter. Qube Research & Technologies Ltd now owns 81,617 shares of the company’s stock valued at $1,982,000 after buying an additional 16,710 shares during the last quarter. Numerai GP LLC purchased a new stake in shares of Fox Factory in the third quarter worth approximately $363,000. Finally, Focus Partners Wealth purchased a new stake in shares of Fox Factory in the third quarter worth approximately $249,000.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.