Fox Factory (FOXF) Stock Rating Lowered by ValuEngine

Fox Factory (NASDAQ:FOXF) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other research analysts have also recently weighed in on the company. Bank of America lifted their target price on Fox Factory from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, October 24th. Zacks Investment Research cut Fox Factory from a “buy” rating to a “hold” rating in a report on Friday, October 20th. William Blair cut Fox Factory from an “outperform” rating to a “market perform” rating in a report on Friday, October 13th. SunTrust Banks reissued a “hold” rating and issued a $36.00 price objective on shares of Fox Factory in a research report on Friday, October 20th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Fox Factory in a research report on Wednesday, November 1st. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Fox Factory presently has a consensus rating of “Hold” and an average price target of $39.29.

Fox Factory (NASDAQ FOXF) traded up $0.15 during mid-day trading on Friday, hitting $39.15. The stock had a trading volume of 538,693 shares, compared to its average volume of 301,168. Fox Factory has a 1-year low of $24.63 and a 1-year high of $46.80. The company has a quick ratio of 1.41, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1,469.77, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. The firm had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $123.02 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. sell-side analysts forecast that Fox Factory will post 1.53 EPS for the current year.

In other news, SVP William H. Katherman sold 18,580 shares of Fox Factory stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $780,545.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.40% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its stake in Fox Factory by 76.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock worth $110,000 after purchasing an additional 1,332 shares in the last quarter. SG Americas Securities LLC acquired a new position in Fox Factory in the second quarter worth about $111,000. LS Investment Advisors LLC grew its stake in Fox Factory by 7.5% in the second quarter. LS Investment Advisors LLC now owns 3,990 shares of the company’s stock worth $142,000 after purchasing an additional 279 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Fox Factory in the second quarter worth about $160,000. Finally, Pinebridge Investments L.P. boosted its stake in Fox Factory by 20.5% in the second quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after acquiring an additional 778 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

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Fox Factory 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.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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