Fox Factory (NASDAQ:FOXF) Stock Rating Lowered by Zacks Research

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

Several other research firms also recently weighed in on FOXF. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Roth Mkm cut their price objective on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus set a $24.00 target price on Fox Factory in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fox Factory has an average rating of “Hold” and a consensus price target of $27.25.

Fox Factory Trading Up 2.9%

Shares of FOXF stock opened at $18.18 on Tuesday. Fox Factory has a fifty-two week low of $13.08 and a fifty-two week high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.37 and a current ratio of 2.86. The stock has a 50 day simple moving average of $17.04 and a two-hundred day simple moving average of $17.87. The company has a market cap of $762.34 million, a P/E ratio of -1.39 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts forecast that Fox Factory will post 1.44 earnings per share for the current year.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC bought a new position in shares of Fox Factory during the third quarter valued at about $10,565,000. ArrowMark Colorado Holdings LLC grew its position 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 worth $30,101,000 after purchasing an additional 522,391 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in Fox Factory by 365.1% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 87,825 shares of the company’s stock worth $2,133,000 after purchasing an additional 68,941 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Fox Factory by 3,173.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock valued at $6,650,000 after buying an additional 376,792 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Fox Factory by 37.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 119,552 shares of the company’s stock valued at $2,904,000 after buying an additional 32,636 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.