Other equities analysts also recently issued research reports about the company. Stifel Nicolaus upped their price objective on Fox Factory from $42.00 to $55.00 and gave the company a hold rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded Fox Factory from a buy rating to a hold rating in a research note on Wednesday, June 13th. Berenberg Bank began coverage on shares of Fox Factory in a report on Wednesday, June 20th. They set a buy rating and a $51.00 target price on the stock. ValuEngine raised shares of Fox Factory from a buy rating to a strong-buy rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group upped their price target on shares of Fox Factory from $63.00 to $65.00 and gave the stock a buy rating in a report on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $55.43.
Fox Factory stock opened at $69.95 on Friday. Fox Factory has a 12 month low of $33.20 and a 12 month high of $71.80. The company has a current ratio of 2.18, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.64 billion, a P/E ratio of 43.99, a PEG ratio of 1.99 and a beta of 0.82.
In related news, insider Christopher Tutton sold 485 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $67.00, for a total value of $32,495.00. Following the transaction, the insider now owns 35,000 shares of the company’s stock, valued at $2,345,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Larry L. Enterline sold 90,000 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $68.82, for a total value of $6,193,800.00. Following the completion of the transaction, the chief executive officer now directly owns 60,519 shares in the company, valued at approximately $4,164,917.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,216 shares of company stock worth $13,888,570. Insiders own 5.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in Fox Factory by 96.2% in the second quarter. California Public Employees Retirement System now owns 53,120 shares of the company’s stock valued at $2,473,000 after acquiring an additional 26,046 shares during the last quarter. Millennium Management LLC bought a new position in Fox Factory in the second quarter valued at $608,000. Hilltop Holdings Inc. bought a new position in Fox Factory in the second quarter valued at $453,000. Macquarie Group Ltd. increased its stake in Fox Factory by 12.3% in the second quarter. Macquarie Group Ltd. now owns 66,173 shares of the company’s stock valued at $3,080,000 after acquiring an additional 7,238 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Fox Factory by 6.0% during the second quarter. Bank of America Corp DE now owns 623,962 shares of the company’s stock valued at $29,046,000 after buying an additional 35,314 shares during the period. 99.16% of the stock is currently owned by institutional investors and hedge funds.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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