Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $46.17 Average Price Target from Brokerages

by · The Markets Daily

Fox Factory Holding Corp. (NASDAQ:FOXF – Get Free Report) has earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $46.17.

Several analysts have issued reports on the stock. Truist Financial cut their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Robert W. Baird decreased their price target on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. B. Riley lowered their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America cut their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th.

Read Our Latest Report on FOXF

Insider Buying and Selling at Fox Factory

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Fox Factory in the 4th quarter worth approximately $31,000. YHB Investment Advisors Inc. bought a new position in Fox Factory in the first quarter worth approximately $42,000. TFO Wealth Partners LLC boosted its stake in shares of Fox Factory by 14,180.0% during the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after acquiring an additional 709 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after acquiring an additional 261 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Fox Factory by 31.8% in the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after purchasing an additional 366 shares in the last quarter.

Fox Factory Price Performance

FOXF opened at $39.32 on Friday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 21.97, a PEG ratio of 2.92 and a beta of 1.63. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. Fox Factory has a 12-month low of $34.56 and a 12-month high of $97.36. The stock has a 50-day moving average price of $41.65 and a 200-day moving average price of $44.61.

Fox Factory (NASDAQ:FOXF – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Equities analysts predict that Fox Factory will post 1.56 earnings per share for the current fiscal year.

About Fox Factory

(Get Free Report

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.

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