Brokerages Set Fox Factory Holding Corp. (NASDAQ:FOXF) PT at $28.60

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $29.50.

Several brokerages have recently weighed in on FOXF. Roth Mkm decreased their target price on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. CJS Securities upgraded shares of Fox Factory to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Bank & Trust grew its position in Fox Factory by 8.1% in the 3rd quarter. First Bank & Trust now owns 8,345 shares of the company’s stock valued at $203,000 after buying an additional 623 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in Fox Factory by 9.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock valued at $202,000 after buying an additional 700 shares during the last quarter. Legal & General Group Plc increased its position in Fox Factory by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 111,190 shares of the company’s stock worth $2,884,000 after purchasing an additional 705 shares during the period. Engineers Gate Manager LP increased its position in Fox Factory by 1.1% during the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock worth $1,264,000 after purchasing an additional 770 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Fox Factory by 12.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after purchasing an additional 858 shares during the period.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $16.15 on Thursday. The company has a current ratio of 2.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.96. Fox Factory has a twelve month low of $13.08 and a twelve month high of $31.18. The stock has a 50 day moving average of $17.79 and a two-hundred day moving average of $18.87. The stock has a market cap of $677.22 million, a P/E ratio of -1.24 and a beta of 1.46.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The business had revenue of $361.07 million during the quarter, compared to the consensus estimate of $353.88 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Fox Factory will post 1.31 earnings per share for the current year.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.