Fox Factory Holding Corp. (FOXF) Downgraded by Bank of America Corporation

Bank of America Corporation downgraded shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $38.00 price target on the stock. The analysts noted that the move was a valuation call.

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Fox Factory Holding Corp. from a hold rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Fox Factory Holding Corp. from a hold rating to a buy rating and set a $36.00 price objective for the company in a report on Friday, May 5th. DA Davidson reiterated a hold rating and issued a $34.00 price objective on shares of Fox Factory Holding Corp. in a report on Friday, June 30th. CL King lowered shares of Fox Factory Holding Corp. from a buy rating to a neutral rating in a report on Thursday, June 1st. Finally, BidaskClub upgraded shares of Fox Factory Holding Corp. from a buy rating to a strong-buy rating in a report on Thursday, June 29th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Fox Factory Holding Corp. presently has an average rating of Buy and an average target price of $31.71.

Shares of Fox Factory Holding Corp. (FOXF) traded up 0.14% during trading on Wednesday, hitting $36.80. 321,015 shares of the company’s stock were exchanged. Fox Factory Holding Corp. has a 1-year low of $18.00 and a 1-year high of $38.40. The stock’s 50-day moving average price is $32.94 and its 200-day moving average price is $29.01. The stock has a market cap of $1.37 billion, a PE ratio of 32.86 and a beta of 0.67.

Fox Factory Holding Corp. (NASDAQ:FOXF) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $106.33 million for the quarter, compared to the consensus estimate of $97.31 million. Fox Factory Holding Corp. had a net margin of 10.01% and a return on equity of 30.07%. On average, equities analysts expect that Fox Factory Holding Corp. will post $1.44 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Fox Factory Holding Corp. (FOXF) Downgraded by Bank of America Corporation” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://sportsperspectives.com/2017/07/17/fox-factory-holding-corp-foxf-downgraded-by-bank-of-america-corporation.html.

In other Fox Factory Holding Corp. news, insider Wesley E. Allinger sold 17,418 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $32.88, for a total transaction of $572,703.84. Following the completion of the transaction, the insider now owns 29,419 shares in the company, valued at approximately $967,296.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Zvi Glasman sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, the chief financial officer now owns 62,100 shares of the company’s stock, valued at approximately $1,966,707. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,170 shares of company stock valued at $7,020,981. Company insiders own 21.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its position in Fox Factory Holding Corp. by 261.7% in the first quarter. LS Investment Advisors LLC now owns 3,711 shares of the company’s stock valued at $107,000 after buying an additional 2,685 shares during the last quarter. State of Alaska Department of Revenue raised its position in Fox Factory Holding Corp. by 22.8% in the first quarter. State of Alaska Department of Revenue now owns 3,830 shares of the company’s stock valued at $109,000 after buying an additional 710 shares during the last quarter. Victory Capital Management Inc. raised its position in Fox Factory Holding Corp. by 11.3% in the first quarter. Victory Capital Management Inc. now owns 5,003 shares of the company’s stock valued at $144,000 after buying an additional 509 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Fox Factory Holding Corp. by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,847 shares of the company’s stock valued at $197,000 after buying an additional 955 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Fox Factory Holding Corp. during the first quarter valued at $211,000. Hedge funds and other institutional investors own 95.70% of the company’s stock.

About Fox Factory Holding Corp.

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.

Analyst Recommendations for Fox Factory Holding Corp. (NASDAQ:FOXF)

Receive News & Ratings for Fox Factory Holding Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fox Factory Holding Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply