Zacks Investment Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $39.00 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. “
Other research analysts have also recently issued reports about the company. DA Davidson raised Fox Factory from a neutral rating to a buy rating in a report on Thursday, February 8th. ValuEngine raised Fox Factory from a hold rating to a buy rating in a report on Monday, April 2nd. Finally, BidaskClub raised Fox Factory from a sell rating to a hold rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Fox Factory has an average rating of Hold and an average price target of $39.67.
Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.05. The company had revenue of $121.09 million during the quarter, compared to analysts’ expectations of $118.84 million. Fox Factory had a return on equity of 27.95% and a net margin of 9.07%. sell-side analysts predict that Fox Factory will post 1.78 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in FOXF. Nationwide Fund Advisors raised its holdings in shares of Fox Factory by 45.3% in the third quarter. Nationwide Fund Advisors now owns 235,803 shares of the company’s stock valued at $10,163,000 after buying an additional 73,569 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Fox Factory by 1,003.2% in the third quarter. Sei Investments Co. now owns 6,454 shares of the company’s stock valued at $278,000 after buying an additional 5,869 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Fox Factory by 5.6% in the third quarter. Rhumbline Advisers now owns 69,639 shares of the company’s stock valued at $3,001,000 after buying an additional 3,690 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fox Factory by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 617,142 shares of the company’s stock valued at $26,599,000 after buying an additional 40,597 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Fox Factory by 7.1% in the third quarter. American International Group Inc. now owns 28,042 shares of the company’s stock valued at $1,209,000 after buying an additional 1,850 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.
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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.
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