Fox Factory (NASDAQ:FOXF) Price Target Lowered to $48.00 at Robert W. Baird

Fox Factory (NASDAQ:FOXF) had its price objective lowered by Robert W. Baird from $55.00 to $48.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts also recently commented on FOXF. Stifel Nicolaus reduced their price target on shares of Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. Truist Financial lowered their price target on Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a report on Friday, February 23rd. StockNews.com downgraded Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Finally, Bank of America cut Fox Factory from a buy rating to a neutral rating and set a $55.00 target price for the company. in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $48.00.

Fox Factory Trading Up 10.4 %

Shares of FOXF stock traded up $4.10 during trading hours on Friday, reaching $43.52. 1,149,487 shares of the stock were exchanged, compared to its average volume of 638,720. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. Fox Factory has a 12-month low of $37.98 and a 12-month high of $117.68. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.32 and a beta of 1.68. The company’s 50-day moving average price is $46.45 and its 200-day moving average price is $59.78.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. The firm had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, equities analysts anticipate that Fox Factory will post 2.42 earnings per share for the current year.

Institutional Trading of Fox Factory

Hedge funds have recently modified their holdings of the company. FORA Capital LLC purchased a new stake in Fox Factory during the first quarter valued at approximately $688,000. Fifth Lane Capital LP purchased a new position in Fox Factory during the 1st quarter worth $381,000. Capstone Investment Advisors LLC acquired a new position in Fox Factory during the 1st quarter valued at about $543,000. Precision Wealth Strategies LLC raised its stake in Fox Factory by 9.6% in the first quarter. Precision Wealth Strategies LLC now owns 8,824 shares of the company’s stock valued at $459,000 after buying an additional 775 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in Fox Factory in the first quarter worth about $251,000.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.