Brokerages Set Fox Factory Holding Corp. (NASDAQ:FOXF) PT at $23.20

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.20.

Several equities research analysts have recently commented on the company. Bank of America lowered Fox Factory from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $24.00 to $20.00 in a research note on Tuesday, June 30th. Weiss Ratings lowered Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Stifel Nicolaus set a $24.00 price target on Fox Factory in a research report on Thursday, April 16th. Roth Capital reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. Finally, Fox Advisors set a $20.00 price objective on Fox Factory in a research report on Tuesday, June 30th.

Fox Factory Stock Performance

FOXF opened at $19.53 on Friday. The company’s 50 day moving average is $17.46 and its 200 day moving average is $17.70. 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 company has a market cap of $819.09 million, a price-to-earnings ratio of -2.72, a PEG ratio of 0.70 and a beta of 1.37. Fox Factory has a 12-month low of $13.08 and a 12-month high of $31.18.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 7th. The company reported $0.18 EPS 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 analysts’ expectations of $351.75 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Fox Factory will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in shares of Fox Factory by 188.1% in the fourth quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Fox Factory by 108.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after buying an additional 1,079 shares during the period. Covestor Ltd boosted its holdings in Fox Factory by 693.3% in the 4th quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after buying an additional 2,572 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Fox Factory by 33.3% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after buying an additional 1,035 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Fox Factory in the 1st quarter worth $91,000.

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.