Stifel Nicolaus Reaffirms “Hold” Rating for Fox Factory (FOXF)

Stifel Nicolaus restated their hold rating on shares of Fox Factory (NASDAQ:FOXF) in a research report report published on Sunday morning. They currently have a $44.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Bank of America boosted their target price on shares of Fox Factory from $42.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, October 24th. Zacks Investment Research cut shares of Fox Factory from a buy rating to a hold rating in a research note on Friday, October 20th. William Blair cut shares of Fox Factory from an outperform rating to a market perform rating in a research note on Friday, October 13th. ValuEngine raised shares of Fox Factory from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, SunTrust Banks reissued a hold rating and issued a $36.00 price objective on shares of Fox Factory in a research note on Friday, October 20th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.29.

Shares of Fox Factory (FOXF) opened at $39.05 on Friday. The firm has a market cap of $1,492.30, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.88 and a beta of 0.62. Fox Factory has a one year low of $25.25 and a one year high of $46.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.48.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The company’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. sell-side analysts expect that Fox Factory will post 1.53 EPS for the current year.

In related news, SVP William H. Katherman sold 18,580 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $780,545.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.40% of the company’s stock.

Several institutional investors have recently modified their holdings of FOXF. Neuberger Berman Group LLC boosted its position in Fox Factory by 187.3% during the third quarter. Neuberger Berman Group LLC now owns 1,144,537 shares of the company’s stock valued at $49,330,000 after acquiring an additional 746,191 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Fox Factory by 11.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,613,788 shares of the company’s stock valued at $285,055,000 after acquiring an additional 686,881 shares during the last quarter. Mawer Investment Management Ltd. bought a new stake in Fox Factory during the third quarter valued at $24,843,000. BlackRock Inc. boosted its position in Fox Factory by 15.2% during the second quarter. BlackRock Inc. now owns 4,059,323 shares of the company’s stock valued at $144,512,000 after acquiring an additional 536,712 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Fox Factory by 28.5% during the first quarter. Vanguard Group Inc. now owns 1,679,239 shares of the company’s stock valued at $48,194,000 after acquiring an additional 372,551 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.

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About Fox Factory

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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