Fox Factory (NASDAQ:FOXF) Upgraded to Hold at Zacks Research

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

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Fox Factory in a research report on Wednesday. Stifel Nicolaus set a $24.00 target price on Fox Factory in a research report on Thursday, April 16th. Weiss Ratings lowered Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Roth Mkm restated a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fox Factory has a consensus rating of “Hold” and an average target price of $25.33.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $17.76 on Wednesday. Fox Factory has a 1-year low of $13.08 and a 1-year high of $31.18. The business has a 50-day moving average of $17.13 and a 200-day moving average of $17.34. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. The company has a market capitalization of $744.64 million, a price-to-earnings ratio of -2.48, a PEG ratio of 0.63 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The company had revenue of $368.66 million during the quarter, compared to the consensus estimate of $351.76 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Fox Factory will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP raised its holdings in Fox Factory by 1.1% in the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock valued at $1,264,000 after acquiring an additional 770 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Fox Factory by 12.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock valued at $203,000 after acquiring an additional 858 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Fox Factory in the 3rd quarter valued at approximately $25,000. Resona Asset Management Co. Ltd. grew its stake in shares of Fox Factory by 33.3% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock valued at $73,000 after purchasing an additional 1,035 shares during the period. Finally, Creative Planning grew its stake in shares of Fox Factory by 11.6% in the 3rd quarter. Creative Planning now owns 9,971 shares of the company’s stock valued at $242,000 after purchasing an additional 1,040 shares during the period.

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.