Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Average Price Target of $20.50

Fox Factory Holding Corp. (NASDAQ:FOXF) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.60.

A number of equities analysts have recently commented on FOXF shares. Zacks Research cut Fox Factory from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. Fox Advisors set a $20.00 price target on Fox Factory in a report on Tuesday, June 30th. B. Riley Financial lowered their price target on Fox Factory from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Bank of America cut shares of Fox Factory from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Fox Factory in a research note on Wednesday, September 30th.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Fox Factory in the second quarter worth about $109,706,000. Engine Capital Management LP increased its position in Fox Factory by 162.3% during the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after purchasing an additional 1,253,808 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Fox Factory in the 2nd quarter valued at about $16,035,000. Empowered Funds LLC bought a new stake in shares of Fox Factory in the 2nd quarter valued at about $7,390,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fox Factory by 26.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,271,969 shares of the company’s stock worth $20,937,000 after purchasing an additional 262,076 shares during the period.

Fox Factory Stock Down 1.7%

NASDAQ FOXF opened at $15.07 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.55 and a current ratio of 3.10. The company has a market capitalization of $633.39 million, a P/E ratio of -2.11, a P/E/G ratio of 1.54 and a beta of 1.41. Fox Factory has a one year low of $13.08 and a one year high of $25.43. The stock has a 50 day moving average price of $19.10 and a 200-day moving average price of $18.29.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The company had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $352.94 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. Fox Factory’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, equities analysts predict that Fox Factory will post 1.01 EPS for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance products for cycling, powered vehicles and other recreational applications. The company is best known for its suspension systems and components, including forks, shocks and related technologies used on mountain bikes, motorcycles, snowmobiles, trucks and side-by-side vehicles.

Through brands including FOX, Race Face, Easton Cycling, Marzocchi, Ride Concepts, Bell, Giro and CamelBak, Fox Factory offers bicycle components, wheels, drivetrain and cockpit products, cycling shoes, helmets, protective equipment, hydration products and apparel.