Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Consensus Target Price of $21.00 According to Analysts

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Fox Factory in the second quarter valued at approximately $109,706,000. RWWM Inc. grew its holdings in Fox Factory by 4.7% in the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock worth $91,074,000 after purchasing an additional 247,635 shares during the last quarter. Engine Capital Management LP increased its position in shares of Fox Factory by 162.3% during the first quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock worth $33,352,000 after purchasing an additional 1,253,808 shares in the last quarter. Estuary Capital Management LP lifted its holdings in shares of Fox Factory by 15.3% during the 1st quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock valued at $29,879,000 after purchasing an additional 240,512 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Fox Factory by 26.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,271,969 shares of the company’s stock valued at $20,937,000 after purchasing an additional 262,076 shares during the last quarter.

Fox Factory Stock Performance

Shares of FOXF stock opened at $18.55 on Friday. The firm has a market cap of $779.68 million, a price-to-earnings ratio of -2.60, a PEG ratio of 0.54 and a beta of 1.38. The company’s 50 day moving average is $19.88 and its 200 day moving average is $18.17. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96. Fox Factory has a 52-week low of $13.08 and a 52-week high of $26.01.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. Fox Factory’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts anticipate that Fox Factory will post 1.53 EPS for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp. (NASDAQ: FOXF) designs, engineers and manufactures performance products for the cycling, powersports and specialty vehicle markets. The company’s offerings are intended for applications ranging from mountain biking and racing to off-road driving, snowmobiling and other recreational activities.

Its product portfolio includes suspension forks, shocks, dropper seatposts, wheels, drivetrain components, protective equipment, apparel and other vehicle accessories. Fox Factory sells products under brands that include FOX, Marzocchi, Race Face, Easton Cycling, Ride Concepts and RockyMounts.

Founded in 1974 by Bob Fox, the company began with suspension technology and expanded through product development and acquisitions into a broader portfolio of performance brands.