Fox Factory (NASDAQ:FOXF) Price Target Lowered to $45.00 at Stifel Nicolaus

Fox Factory (NASDAQ:FOXF) had its price objective decreased by Stifel Nicolaus from $56.00 to $45.00 in a research report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

FOXF has been the subject of a number of other reports. Bank of America lowered Fox Factory from a buy rating to a neutral rating and set a $55.00 price target for the company. in a research note on Friday, February 23rd. Truist Financial reduced their price objective on Fox Factory from $90.00 to $60.00 and set a buy rating on the stock in a report on Friday, February 23rd. Finally, StockNews.com downgraded Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $66.00.

Fox Factory Price Performance

Shares of FOXF stock opened at $39.88 on Wednesday. Fox Factory has a 52-week low of $39.17 and a 52-week high of $117.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. The firm has a market capitalization of $1.67 billion, a P/E ratio of 13.99, a P/E/G ratio of 3.42 and a beta of 1.64. The stock has a 50 day moving average price of $50.28 and a 200 day moving average price of $62.32.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The business had revenue of $332.50 million for the quarter, compared to the consensus estimate of $327.07 million. During the same period in the prior year, the business posted $1.43 earnings per share. Fox Factory’s revenue was down 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Fox Factory will post 2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FOXF. Norges Bank purchased a new position in shares of Fox Factory in the 4th quarter valued at $31,429,000. FMR LLC increased its holdings in shares of Fox Factory by 46.2% in the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after acquiring an additional 359,168 shares during the period. Norden Group LLC increased its holdings in shares of Fox Factory by 3,378.1% in the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after acquiring an additional 278,185 shares during the period. Bamco Inc. NY purchased a new position in shares of Fox Factory in the 3rd quarter valued at $27,247,000. Finally, RWWM Inc. purchased a new position in shares of Fox Factory in the 4th quarter valued at $7,969,000.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.