Zacks Research Upgrades Fox Factory (NASDAQ:FOXF) to Hold

Fox Factory (NASDAQ:FOXF) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on FOXF. Stifel Nicolaus set a $24.00 price objective on shares of Fox Factory in a research note on Thursday, April 16th. Roth Mkm reissued a “neutral” rating and issued a $20.00 price target on shares of Fox Factory in a report on Friday, May 8th. Weiss Ratings cut shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.33.

Fox Factory Stock Down 0.3%

Fox Factory stock opened at $17.76 on Wednesday. Fox Factory has a 1-year low of $13.08 and a 1-year high of $31.18. The firm has a market capitalization of $744.64 million, a price-to-earnings ratio of -2.48, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a current ratio of 2.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00. The firm has a 50 day simple moving average of $17.13 and a 200 day simple moving average of $17.34.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The business had revenue of $368.66 million during the quarter, compared to analyst estimates of $351.76 million. During the same period in the previous year, the business earned $0.23 EPS. Fox Factory’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Fox Factory will post 1.41 earnings per share for the current year.

Institutional Trading of Fox Factory

A number of hedge funds have recently made changes to their positions in FOXF. Federated Hermes Inc. bought a new stake in shares of Fox Factory during the 3rd quarter worth $25,000. Hantz Financial Services Inc. lifted its holdings in shares of Fox Factory by 188.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after acquiring an additional 1,343 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after acquiring an additional 1,079 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Fox Factory by 693.3% during the 4th quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after acquiring an additional 2,572 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in shares of Fox Factory by 33.3% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after acquiring an additional 1,035 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.