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

Zacks Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Stifel Nicolaus set a $24.00 price target on Fox Factory in a research note on Thursday, April 16th. Roth Mkm reaffirmed a “neutral” rating and set a $20.00 price target on shares of Fox Factory in a research note on Friday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Fox Factory in a research note on Wednesday. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.33.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $17.76 on Wednesday. The firm has a market capitalization of $744.64 million, a P/E ratio of -2.48, a PEG ratio of 0.63 and a beta of 1.37. Fox Factory has a one year low of $13.08 and a one year high of $31.18. The company’s fifty day moving average is $17.13 and its two-hundred day moving average is $17.34. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.52 and a current ratio of 2.99.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.09 by $0.09. The company had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.76 million. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. Analysts forecast that Fox Factory will post 1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FOXF. Nantahala Capital Management LLC raised 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 valued at $37,442,000 after purchasing an additional 1,459,652 shares during the last quarter. Engine Capital Management LP raised its stake 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 last quarter. Towle & Co. acquired a new position in Fox Factory in the 4th quarter valued at about $8,967,000. ArrowMark Colorado Holdings LLC raised its stake in Fox Factory by 72.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after purchasing an additional 522,391 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Fox Factory by 294.3% in the 4th quarter. Renaissance Technologies LLC now owns 547,693 shares of the company’s stock valued at $9,371,000 after purchasing an additional 408,800 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.