Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $25.33 Average Price Target from Analysts

Fox Factory Holding Corp. (NASDAQ:FOXF) has received an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.3333.

Several brokerages have issued reports on FOXF. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Roth Mkm reaffirmed a “neutral” rating and set a $20.00 target price on shares of Fox Factory in a research note on Friday, May 8th. Stifel Nicolaus set a $24.00 target price on shares of Fox Factory in a research note on Thursday, April 16th. Weiss Ratings cut shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Fox Factory in a research report on Wednesday, June 3rd.

Fox Factory Stock Performance

Shares of FOXF opened at $18.67 on Tuesday. Fox Factory has a 52-week low of $13.08 and a 52-week high of $31.18. The company has a quick ratio of 1.52, a current ratio of 2.99 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $17.41 and its two-hundred day moving average is $17.62. The stock has a market cap of $783.02 million, a PE ratio of -2.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $368.66 million for the quarter, compared to analysts’ expectations of $351.76 million. During the same quarter in the previous year, the company posted $0.23 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Fox Factory will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FOXF. Royal Bank of Canada boosted its position in shares of Fox Factory by 82.2% during the 1st quarter. Royal Bank of Canada now owns 12,898 shares of the company’s stock valued at $301,000 after acquiring an additional 5,820 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Fox Factory by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,142 shares of the company’s stock valued at $587,000 after acquiring an additional 1,103 shares during the last quarter. Millennium Management LLC boosted its position in shares of Fox Factory by 18.7% during the 1st quarter. Millennium Management LLC now owns 464,493 shares of the company’s stock valued at $10,841,000 after acquiring an additional 73,090 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fox Factory during the 1st quarter valued at about $263,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Fox Factory by 20.7% during 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 valued at $2,041,000 after acquiring 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.