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

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

FOXF has been the topic of several other research reports. Roth Capital dropped their price objective on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $33.00 price objective on Fox Factory in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.17.

Fox Factory Trading Up 0.9%

NASDAQ FOXF opened at $18.33 on Tuesday. The stock has a market cap of $766.21 million, a PE ratio of -2.97 and a beta of 1.46. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18. The company’s 50-day moving average price is $16.90 and its 200-day moving average price is $23.44. The company has a current ratio of 2.98, a quick ratio of 1.36 and a debt-to-equity ratio of 0.69.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.33). The company had revenue of $376.36 million during the quarter, compared to analysts’ expectations of $382.59 million. Fox Factory had a negative net margin of 17.66% and a positive return on equity of 4.84%. Fox Factory’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Fox Factory has set its FY 2025 guidance at 0.920-1.120 EPS and its Q4 2025 guidance at 0.050-0.250 EPS. Equities research analysts forecast that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently made changes to their positions in FOXF. Royal Bank of Canada boosted its position in Fox Factory by 82.2% during the first quarter. Royal Bank of Canada now owns 12,898 shares of the company’s stock valued at $301,000 after purchasing an additional 5,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Fox Factory by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,142 shares of the company’s stock valued at $587,000 after buying an additional 1,103 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Fox Factory by 18.7% in the 1st quarter. Millennium Management LLC now owns 464,493 shares of the company’s stock valued at $10,841,000 after buying an additional 73,090 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fox Factory in the 1st quarter worth approximately $263,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Fox Factory by 20.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,431 shares of the company’s stock worth $2,041,000 after buying an additional 15,021 shares during the last quarter.

About Fox Factory

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.