Fox Factory Holding Corp. (FOXF) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $44.00 price objective on the stock.

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. “

A number of other research analysts have also issued reports on FOXF. DA Davidson lowered Fox Factory Holding Corp. from a buy rating to a neutral rating and set a $34.00 target price on the stock. in a report on Wednesday, May 17th. CL King lowered Fox Factory Holding Corp. from a buy rating to a neutral rating in a report on Thursday, June 1st. ValuEngine raised Fox Factory Holding Corp. from a hold rating to a buy rating in a report on Friday, June 2nd. BidaskClub raised Fox Factory Holding Corp. from a buy rating to a strong-buy rating in a report on Thursday, June 29th. Finally, Bank of America Corporation lowered Fox Factory Holding Corp. from a buy rating to a neutral rating and set a $38.00 target price on the stock. in a report on Wednesday, July 12th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $35.67.

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) opened at 38.95 on Thursday. The stock’s 50 day moving average is $38.40 and its 200-day moving average is $32.81. Fox Factory Holding Corp. has a 52 week low of $19.65 and a 52 week high of $40.50. The firm has a market cap of $1.46 billion, a PE ratio of 31.16 and a beta of 0.68.

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

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In related news, SVP William H. Katherman sold 2,356 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $36.95, for a total transaction of $87,054.20. Following the transaction, the senior vice president now owns 32,750 shares of the company’s stock, valued at $1,210,112.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zvi Glasman sold 10,200 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $39.34, for a total value of $401,268.00. Following the transaction, the chief financial officer now directly owns 82,325 shares in the company, valued at approximately $3,238,665.50. The disclosure for this sale can be found here. Insiders have sold 52,159 shares of company stock worth $1,985,742 in the last ninety days. 21.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its position in Fox Factory Holding Corp. by 2.7% during the fourth quarter. Teachers Advisors LLC now owns 38,743 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,019 shares in the last quarter. Bank of Montreal Can boosted its position in Fox Factory Holding Corp. by 2.9% during the first quarter. Bank of Montreal Can now owns 8,510 shares of the company’s stock worth $244,000 after purchasing an additional 242 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Fox Factory Holding Corp. by 21.6% during the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the company’s stock worth $405,000 after purchasing an additional 2,500 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Fox Factory Holding Corp. by 22.8% during the first quarter. State of Alaska Department of Revenue now owns 3,830 shares of the company’s stock worth $109,000 after purchasing an additional 710 shares in the last quarter. Finally, BB&T Corp boosted its position in Fox Factory Holding Corp. by 4.6% during the first quarter. BB&T Corp now owns 10,260 shares of the company’s stock worth $294,000 after purchasing an additional 455 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Fox Factory Holding Corp. Company Profile

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.

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

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