Fox Factory (FOXF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a report released on Thursday. They currently have $45.00 price target on the stock.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

Several other brokerages have also issued reports on FOXF. SunTrust Banks reiterated a hold rating and set a $36.00 target price on shares of Fox Factory in a research report on Friday, October 20th. William Blair lowered shares of Fox Factory from an outperform rating to a market perform rating in a research report on Friday, October 13th. ValuEngine lowered shares of Fox Factory from a buy rating to a hold rating in a research report on Monday, October 2nd. Robert W. Baird reiterated a hold rating and set a $40.00 target price on shares of Fox Factory in a research report on Thursday, September 28th. Finally, Bank of America lifted their target price on shares of Fox Factory from $42.00 to $45.00 and gave the company a neutral rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $39.43.

Shares of Fox Factory (FOXF) traded up $0.65 during trading hours on Thursday, reaching $40.00. 132,752 shares of the company traded hands, compared to its average volume of 171,200. The stock has a market capitalization of $1,477.28, a PE ratio of 31.01, a P/E/G ratio of 1.54 and a beta of 0.62. Fox Factory has a 12 month low of $25.25 and a 12 month high of $46.80. The company has a current ratio of 2.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26.

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

In other news, CFO Zvi Glasman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $39.37, for a total value of $393,700.00. Following the completion of the sale, the chief financial officer now directly owns 160,331 shares in the company, valued at approximately $6,312,231.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Larry L. Enterline sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the completion of the sale, the chief executive officer now owns 124,934 shares of the company’s stock, valued at $4,757,486.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $3,845,500. Company insiders own 21.40% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Fox Factory by 76.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock worth $110,000 after acquiring an additional 1,332 shares during the last quarter. SG Americas Securities LLC bought a new stake in Fox Factory during the 2nd quarter valued at $111,000. Pinebridge Investments L.P. raised its holdings in Fox Factory by 20.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after buying an additional 778 shares during the last quarter. Amalgamated Bank bought a new stake in Fox Factory during the 3rd quarter valued at $209,000. Finally, Polen Capital Management LLC bought a new stake in Fox Factory during the 3rd quarter valued at $225,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.

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Fox Factory Company Profile

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.

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