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

Fox Factory (NASDAQ:FOXF) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Roth Mkm lowered their price objective on Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and a consensus target price of $28.60.

Fox Factory Trading Down 6.9%

Shares of NASDAQ FOXF traded down $1.21 during trading on Thursday, reaching $16.31. The company had a trading volume of 963,781 shares, compared to its average volume of 663,175. The stock has a market cap of $681.76 million, a P/E ratio of -1.25 and a beta of 1.50. The company’s fifty day moving average price is $18.61 and its 200-day moving average price is $20.75. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $361.07 million for the quarter, compared to analyst estimates of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, research analysts expect that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in Fox Factory in the third quarter valued at approximately $25,000. Federated Hermes Inc. acquired a new stake in Fox Factory in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. increased its stake in Fox Factory by 188.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock valued at $35,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Fox Factory by 693.3% during the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after buying an additional 2,572 shares during 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.