Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.60.

Several equities research analysts have recently commented on the company. B. Riley Financial reduced their price objective on Fox Factory from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Zacks Research downgraded Fox Factory from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Fox Advisors set a $20.00 price target on Fox Factory in a report on Tuesday, June 30th. Roth Capital restated a “neutral” rating and issued a $17.00 price target on shares of Fox Factory in a research report on Monday, October 19th. Finally, Weiss Ratings raised Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th.

Institutional Investors Weigh In On Fox Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in Fox Factory during the second quarter valued at approximately $4,032,000. Empowered Funds LLC purchased a new stake in shares of Fox Factory in the second quarter worth $7,390,000. Bank of America Corp DE purchased a new stake in shares of Fox Factory in the second quarter worth $3,872,000. Quantinno Capital Management LP raised its position in shares of Fox Factory by 216.8% during the 1st quarter. Quantinno Capital Management LP now owns 163,635 shares of the company’s stock valued at $2,693,000 after purchasing an additional 111,976 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of Fox Factory during the 2nd quarter valued at $109,706,000.

Fox Factory Stock Performance

Shares of NASDAQ FOXF opened at $14.73 on Tuesday. Fox Factory has a 12-month low of $13.08 and a 12-month high of $25.35. The firm has a market capitalization of $619.10 million, a price-to-earnings ratio of -2.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.41. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $18.96 and a 200 day moving average of $18.20.

Fox Factory (NASDAQ:FOXF) last released its quarterly 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. The business had revenue of $358.12 million for 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%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that Fox Factory will post 1.01 earnings per share for the current year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance products for cycling, powered vehicles and other recreational applications. The company is best known for its suspension systems and components, including forks, shocks and related technologies used on mountain bikes, motorcycles, snowmobiles, trucks and side-by-side vehicles.

Through brands including FOX, Race Face, Easton Cycling, Marzocchi, Ride Concepts, Bell, Giro and CamelBak, Fox Factory offers bicycle components, wheels, drivetrain and cockpit products, cycling shoes, helmets, protective equipment, hydration products and apparel.