Fox Factory (FOXF) Rating Lowered to Hold at BidaskClub

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Fox Factory (NASDAQ:FOXF) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also issued research reports about the company. Bank of America upped their price target on Fox Factory from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Jefferies Financial Group increased their target price on Fox Factory from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Fox Factory from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, July 5th. Stifel Nicolaus increased their target price on Fox Factory from $42.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Finally, Robert W. Baird increased their target price on Fox Factory from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Fox Factory presently has a consensus rating of “Buy” and an average target price of $56.86.

FOXF traded down $1.24 during midday trading on Friday, reaching $57.30. 180,000 shares of the company’s stock traded hands, compared to its average volume of 242,891. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 1.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.20. Fox Factory has a 52 week low of $33.20 and a 52 week high of $73.10.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $156.80 million during the quarter, compared to analyst estimates of $146.72 million. Fox Factory had a return on equity of 27.73% and a net margin of 10.93%. Fox Factory’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, sell-side analysts expect that Fox Factory will post 2.09 EPS for the current fiscal year.

In other news, insider Christopher Tutton sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $63.79, for a total value of $191,370.00. Following the completion of the transaction, the insider now owns 39,485 shares of the company’s stock, valued at approximately $2,518,748.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wesley E. Allinger sold 20,000 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $49.10, for a total value of $982,000.00. Following the completion of the transaction, the insider now directly owns 62,132 shares of the company’s stock, valued at approximately $3,050,681.20. The disclosure for this sale can be found here. Insiders sold a total of 195,216 shares of company stock valued at $12,888,170 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in shares of Fox Factory by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 9,684 shares of the company’s stock worth $451,000 after buying an additional 1,327 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Fox Factory by 25.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,631 shares of the company’s stock worth $266,000 after buying an additional 1,568 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Fox Factory by 4.3% in the 1st quarter. New York State Common Retirement Fund now owns 39,100 shares of the company’s stock worth $1,365,000 after buying an additional 1,600 shares during the last quarter. Polen Capital Management LLC grew its stake in shares of Fox Factory by 12.2% in the 2nd quarter. Polen Capital Management LLC now owns 14,722 shares of the company’s stock worth $685,000 after buying an additional 1,601 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Fox Factory by 27.9% in the 1st quarter. Profund Advisors LLC now owns 7,435 shares of the company’s stock worth $259,000 after buying an additional 1,620 shares during the last quarter. Institutional investors own 99.64% of the company’s stock.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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