Brokerages Set Fox Factory Holding Corp. (NASDAQ:FOXF) PT at $21.00

Fox Factory Holding Corp. (NASDAQ:FOXF) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $21.00.

A number of research firms recently weighed in on FOXF. Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Bank of America downgraded Fox Factory from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fox Factory in a report on Friday, August 7th. Zacks Research upgraded Fox Factory from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Finally, Fox Advisors set a $20.00 price objective on Fox Factory in a research note on Tuesday, June 30th.

Fox Factory Price Performance

NASDAQ FOXF opened at $21.52 on Monday. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96. The company has a market cap of $904.49 million, a PE ratio of -3.01, a price-to-earnings-growth ratio of 0.62 and a beta of 1.38. Fox Factory has a 52 week low of $13.08 and a 52 week high of $29.97. The firm’s 50-day simple moving average is $19.28 and its two-hundred day simple moving average is $18.05.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The firm had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. Research analysts predict that Fox Factory will post 1.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FOXF. BlackRock Inc. bought a new stake in Fox Factory during the 2nd quarter worth approximately $109,706,000. Nantahala Capital Management LLC lifted its stake in Fox Factory by 200.3% in the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after purchasing an additional 1,459,652 shares in the last quarter. Engine Capital Management LP boosted its holdings in Fox Factory by 162.3% in the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after purchasing an additional 1,253,808 shares during the period. The Manufacturers Life Insurance Company bought a new position in Fox Factory in the 2nd quarter valued at $16,035,000. Finally, California State Teachers Retirement System grew its position in shares of Fox Factory by 2,113.9% during the 2nd quarter. California State Teachers Retirement System now owns 855,841 shares of the company’s stock valued at $14,502,000 after purchasing an additional 817,183 shares in the last quarter.

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.