Fox Factory Holding Corp. (FOXF) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a buy rating to a hold rating in a report published on Wednesday.

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. “

Several other analysts also recently weighed in on FOXF. DA Davidson downgraded shares of Fox Factory Holding Corp. from a buy rating to a neutral rating and set a $34.00 price target for the company. in a research note on Wednesday, May 17th. CL King downgraded shares of Fox Factory Holding Corp. from a buy rating to a neutral rating in a research note on Thursday, June 1st. ValuEngine raised shares of Fox Factory Holding Corp. from a hold rating to a buy rating in a research note on Friday, June 2nd. BidaskClub raised shares of Fox Factory Holding Corp. from a buy rating to a strong-buy rating in a research note on Thursday, June 29th. Finally, Bank of America Corporation downgraded shares of Fox Factory Holding Corp. from a buy rating to a neutral rating and set a $38.00 price target for the company. in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Fox Factory Holding Corp. presently has a consensus rating of Buy and a consensus target price of $35.67.

Shares of Fox Factory Holding Corp. (NASDAQ FOXF) traded down 0.64% on Wednesday, hitting $38.95. The stock had a trading volume of 245,888 shares. The company has a market capitalization of $1.46 billion, a PE ratio of 31.16 and a beta of 0.68. Fox Factory Holding Corp. has a 1-year low of $19.65 and a 1-year high of $40.50. The firm has a 50-day moving average of $38.40 and a 200 day moving average of $32.81.

Fox Factory Holding Corp. (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $120.80 million during the quarter, compared to the consensus estimate of $117.16 million. Fox Factory Holding Corp. had a net margin of 10.67% and a return on equity of 29.60%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities analysts anticipate that Fox Factory Holding Corp. will post $1.50 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Fox Factory Holding Corp. (FOXF) Downgraded to “Hold” at Zacks Investment Research” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/09/10/fox-factory-holding-corp-foxf-downgraded-to-hold-at-zacks-investment-research.html.

In related news, CFO Zvi Glasman sold 10,200 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $39.34, for a total value of $401,268.00. Following the completion of the transaction, the chief financial officer now directly owns 82,325 shares of the company’s stock, valued at $3,238,665.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wesley E. Allinger sold 17,418 shares of the stock in a transaction dated Monday, June 12th. The stock was 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 directly owns 29,419 shares of the company’s stock, valued at $967,296.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,577 shares of company stock valued at $2,558,446. Insiders own 21.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Fox Factory Holding Corp. by 7.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,926,907 shares of the company’s stock worth $210,998,000 after buying an additional 404,704 shares in the last quarter. BlackRock Inc. raised its stake in Fox Factory Holding Corp. by 15.2% in the second quarter. BlackRock Inc. now owns 4,059,323 shares of the company’s stock worth $144,512,000 after buying an additional 536,712 shares in the last quarter. Vanguard Group Inc. raised its stake in Fox Factory Holding Corp. by 7.7% in the second quarter. Vanguard Group Inc. now owns 1,808,368 shares of the company’s stock worth $64,377,000 after buying an additional 129,129 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Fox Factory Holding Corp. by 6.3% in the second quarter. Conestoga Capital Advisors LLC now owns 1,577,516 shares of the company’s stock worth $56,160,000 after buying an additional 93,655 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Fox Factory Holding Corp. by 4.9% in the first quarter. Wells Fargo & Company MN now owns 1,479,874 shares of the company’s stock worth $42,473,000 after buying an additional 69,635 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Fox Factory Holding Corp. (FOXF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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